French quarter inns drops the price of a suite from $225 to $195 per night and experiences a reduction in the quantity of rooms demanded of an average of five per night. this is an indication that suites at this hotel are apparently an example of a(n) product.

Prestige

Explanation:

Things that are seen as being exceptionally high caliber and accordingly warrant a more significant expense dependent on the additional worth that the buyer feels they will acquire from the item.

Numerous products and enterprises have esteem, that is, they increment the status of customers who claim or use them. These are called prestige products. Gems and elegant garments, sumptuous homes and autos, and luxurious diversion are instances of these prestige merchandise.

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