Which of the following statements about price and quality is supported by research?
A)The higher the price,the greater the sales volume.
B)Consumers' perception of product quality is related closely to an item's price.
C)Perception of quality has no relationship to price.
D)Quality and price always go hand-in-hand.

Question

Quizplus · Accepted Answer

Research has shown that consumers often use price as an indicator of quality. When information about the actual quality of a product is not readily available or easily understood, consumers may rely on price, assuming that higher-priced items are of better quality. This does not necessarily mean that quality and price always go hand-in-hand, as other factors can influence pricing strategies and perceptions of value.

Which of the Following Statements About Price and Quality Is