In Response to Jade Brulotte

If I believed that the good or service met my needs and expectations then yes, I would be willing to pay the extra amount. However, it also depends on what the product is and whether or not the extra money is actually worth it. Companies such as Apple provide high-end products at a relatively high price. However with their products you know that your money will be well spent, and that with the product you gain technical help with technicians who are trained to make sure your product will work properly. In cases like this, I know that my money won't go to waste.

You also have to weigh in whether the product is worth it in the long run. People are not willing to buy a product if it won't last overall. Will the product hold up over time? The L.L Bean company understood this need of their consumers and provide life-time guarantee on all of their products. With this the consumer has the knowledge that no matter what they purchase, it will last for forever. Deciding whether or not to purchase a good at a higher price depends on the benefits one will experience and the quality of that good or service.

Do you think that consumers are more likely to purchase a good or service at a higher price due to the advertising of that product?