Description
A recent study indicates that a variety of retailers sell one-carat diamonds, but consumers pay vastly different prices at Costco versus Tiffany’s. The diamonds are a commodity; they must meet the same standards and are rated the same. Why would a consumer spend thousands more to buy a stone at Tiffany’s? MUST BE DETAILED... NO PLAGIARISM. 3 PARAGRAPHS.
Explanation & Answer
Attached.
Running head: DIAMONDS
1
Diamonds
Institutional Affiliation
Date
DIAMONDS
2
Introduction
Costco and Tiffany diamonds ought to meet the same standards and are rated the same.
However, it has been shown that consumers spend thousands more to buy a stone at Tiffany’s. In
the next paragraphs, we shall talk about why would a consumer spend this much on Tiffany’s
and yet we have an alternative (Cascio, 2006).
Why Tiffany’s?
One of the reasons why consumers would pay thousands on Tiffany is the way th...
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