Question

In cases where a consumer purchases an exercise machine costing $1,000 or more, he or she expects the item to exhibit a high level of ________, the level at which the product's primary characteristics operate.

1) Quality
2) Durability
3) Performance
4) Efficiency

Answer 1

A consumer purchasing an exercise machine worth $1,000 or more expects high performance, which reflects the product's ability to operate effectively at its primary characteristics.

Step-by-step explanation:

When considering a case where a consumer purchases an exercise machine costing $1,000 or more, he or she expects the item to exhibit a high level of performance, which is the level at which the product's primary characteristics operate. The consumer's expectation is based on the belief that higher-priced items will naturally provide better quality, durability, and efficiency, as the price often acts as a signal of quality. However, as the notion of utility suggests, value is also found in the durability of goods and the environmental cost of production and disposal. Thus, in the context of a high-cost exercise machine, performance is assumed to be exemplary, also implying quality and efficiency, leading to longer-term satisfaction and utility.