Topic: Pricing & Consumer Behaviour

Describe a situation in which you either paid significantly more than a product or service was objectively "worth," or where you would have been willing to pay significantly more than the asking price because of the product's or service's value to you.

With reference to at least one of the pricing pringjples described in Chapter 9 and at least one of the factors influencing consumer behaviour discussed in Chapter 5 (see in particular Figure 5.2), explain why this product or service had a higher value for you personally than it might have had for a "typical" consumer.

(no more than 300 words)