To reduce the price sensitivity for some of its products, Washburn uses
A)multiple suppliers for its raw materials.
B)offering three months of free music lessons with the purchase of each guitar.
C)endorsements by internationally known musicians who play their guitars and lend their names to lines of Washburn signature guitars.
D)offering a lifetime unconditional warranty on all its instruments regardless of price.
E)sponsoring free music programs and special Washburn guitar camps for children.

Question

Quizplus · Accepted Answer

By using endorsements from well-known musicians, Washburn is able to create a perceived value for their guitars that goes beyond just the price. This can help to reduce price sensitivity among consumers who are fans of those musicians, as they may be willing to pay more for a guitar that their favorite artist endorses or uses. Additionally, the signature lines of guitars can help to create a sense of exclusivity and uniqueness, further reducing price sensitivity.

To Reduce the Price Sensitivity for Some of Its Products