Marketing: Custom Edition for Texas A&M University 17th Edition by William Pride,Ferrell

Exercise 28

As discussed in this chapter, customers interpret and respond to prices in different ways, depending on the type of product, perceptions of product quality, and the customer's ability to judge product quality independent of the price. Because customers lack the ability to judge product quality, they sometimes use the price of the product as an indicator of product quality. Thus, the price-quality relationship can influence the purchase of some products. For each one of the following, indicate whether customers rely heavily, moderately, or hardly at all on the price to judge the quality of a product.