Consumers are more likely to view price as an indicator of quality if ________.
A) they have little information to go on
B) they are confident in their ability to make the product or service choice
C) they are experts
D) they are familiar with the store where the product is purchased
E) they are familiar with the product or service

Question

Quizplus · Accepted Answer

When consumers have little information to go on, they are more likely to use price as a heuristic or shortcut to infer the quality of a product or service, assuming that higher prices signal better quality.

Consumers Are More Likely to View Price as an Indicator