Question

Scott, a young professional, buys a new bmw, even though a ford would have cost him less. scott values the bmw brand. this is an example of _____

Answer 1

this is an example of : Paying minimum price.
Every consumes have the basic economic intent to obtain products that have maximum value with the lowest price possible.
But, Loyal customers often ignore this instinct because they're really attached to the product from a certain company.