Question

Among professional musicians, Washburn Guitar has a reputation for producing excellent electric and acoustic guitars. These professionals need reliable, high-quality equipment because their livelihood depends on having nothing less than the best musical instruments; they tend to stick with Washburn and do not mind paying a premium price for a quality instrument. As such, this market segment could be described as being __________ and __________.

Answer 1

Answer:

As such, this market segment could be described as being brand loyal and price inelastic.

Explanation:

Loyalty to a brand, whatever it may be, tends to trap consumers/users and prevent them from seeing defects or switching to another brand simply because they don't know if it will be a good idea. It is the custom to use that brand or product and feel afraid to change, even if it is expensive to be with that brand.