Upscale Customers Part 2

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Upscale Consumer Part 2b

3.

Upscale consumer part2a

4.

Consumers will pay a premium for product or service based on three values:

Affordability, intrinsic value, popularity
Humor, service, and staff availabilty
Desirability, believability, and exclusivity
Larry, Curly, and Moe

Correct Answer

A. Desirability, believability, and exclusivity

Explanation

Consumers are willing to pay a higher price for a product or service that they find desirable, believable, and exclusive. Desirability refers to the appeal and attractiveness of the product or service, making consumers want to own or experience it. Believability refers to the trust and confidence that consumers have in the product or service, believing that it will deliver the promised benefits. Exclusivity refers to the perception that the product or service is unique and not easily accessible to everyone, creating a sense of prestige and status for those who own or use it. These three values combined can justify a premium price in the eyes of consumers.

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5.

Paying a higher than average price may be considered a sign of status to the upscale consumer.

True
False

Correct Answer

A. True

Explanation

The statement suggests that upscale consumers may consider paying a higher than average price as a sign of status. This implies that these consumers are willing to spend more money on products or services in order to demonstrate their wealth or social standing. Therefore, the correct answer is true.

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6.

It may be important to tell the customer why the prices higher.

True
False

Correct Answer

A. True

Explanation

It is important to tell the customer why the prices are higher because it helps in providing transparency and building trust with the customer. By explaining the reasons behind the higher prices, the customer can understand the value they are getting for their money and make an informed decision. This also prevents any confusion or dissatisfaction that may arise if the customer feels that they are being overcharged without any justification. Ultimately, clear communication about pricing builds a positive customer experience and enhances the reputation of the business.

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7.

The upscale consumer will pay a premium for product if it is in short supply or difficult to acquire.

True
False

Correct Answer

A. True

Explanation

The statement suggests that upscale consumers are willing to pay more for a product if it is scarce or hard to obtain. This implies that these consumers value exclusivity and are willing to spend extra to have something that others may not be able to acquire easily. Therefore, the statement is true.

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8.

To the upscale customer what other customers say about your brand is more important than what your marketing says about your brand.

True
False

Correct Answer

A. True

Explanation

The explanation for the correct answer, True, is that upscale customers tend to value the opinions and experiences of others when making purchasing decisions. They rely on word-of-mouth recommendations and reviews from other customers to gauge the quality and reputation of a brand. This is because they prioritize the opinions of their peers and trust their judgment more than the marketing messages put forth by the brand itself. Therefore, what other customers say about a brand holds more weight and influence on the purchasing decisions of upscale customers.

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9.

The point behind positively outrageous service is to create compelling, positive word of mouth.

True
False

Correct Answer

A. True

Explanation

Positively outrageous service aims to generate positive word of mouth by providing exceptional and memorable experiences to customers. By going above and beyond their expectations, customers are more likely to share their positive experiences with others, leading to increased brand awareness and reputation. This can result in organic marketing and customer acquisition through word of mouth, making the statement true.

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10.

According to the video the upscale consumer is three times more likely to carry multiple personal technology devices.

True
False

Correct Answer

A. True

Explanation

The video states that the upscale consumer is three times more likely to carry multiple personal technology devices. This means that individuals who are more affluent are more likely to own and use multiple gadgets such as smartphones, tablets, and laptops. This could be due to their higher disposable income, which allows them to afford and invest in these devices. Therefore, the statement is true based on the information provided in the video.

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11.

A well developed customer profile should include customer photos.

True
False

Correct Answer

A. True

Explanation

A well-developed customer profile should include customer photos because visual representations of customers can provide valuable insights and help businesses better understand their target audience. Customer photos can help in creating more relatable and personalized marketing campaigns, improving product development and customer experience strategies, and enhancing overall customer engagement. Additionally, customer photos can also aid in identifying trends, preferences, and demographics, enabling businesses to tailor their offerings accordingly.

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12.

A follow-up thank-you card has little value if it is not personalized or customized.

True
False

Correct Answer

A. True

Explanation

A follow-up thank-you card has little value if it is not personalized or customized because the purpose of a thank-you card is to express gratitude and make the recipient feel appreciated. If the card is not personalized or customized, it may come across as insincere or generic, diminishing its value. Personalizing or customizing the card shows that the sender took the time and effort to make it special, enhancing its significance and impact.

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13.

The upscale consumer expects to be surprised and delighted with their service.

True
False

Correct Answer

A. True

Explanation

The statement is true because upscale consumers have higher expectations when it comes to service. They are willing to pay a premium price for a premium experience, and part of that experience includes being surprised and delighted. Upscale consumers often seek personalized and unique experiences that go beyond their expectations. Therefore, businesses catering to this market segment need to constantly innovate and exceed customer expectations to maintain their loyalty and satisfaction.

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Upscale Customers Part 2

Upscale Part 2c

Quiz Preview

Upscale Consumer Part 2b

Upscale consumer part2a

Consumers will pay a premium for product or service based on three values:

Paying a higher than average price may be considered a sign of status to the upscale consumer.

It may be important to tell the customer why the prices higher.

The upscale consumer will pay a premium for product if it is in short supply or difficult to acquire.

To the upscale customer what other customers say about your brand is more important than what your marketing says about your brand.

The point behind positively outrageous service is to create compelling, positive word of mouth.

According to the video the upscale consumer is three times more likely to carry multiple personal technology devices.

A well developed customer profile should include customer photos.

A follow-up thank-you card has little value if it is not personalized or customized.

The upscale consumer expects to be surprised and delighted with their service.