When consumers cannot judge quality because they lack the information or skill,price becomes .
A)insignificant
B)an important quality signal
C)negotiable
D)the only driver of the purchase
E)less important

Question

Quizplus · Accepted Answer

When consumers lack the information or skill to judge quality, they rely on other quality signals such as brand reputation or price. In this case, price becomes an important quality signal, as consumers may assume that higher-priced products are of higher quality.

When Consumers Cannot Judge Quality Because They Lack the Information