A consumer may believe that a low price represents a good buy or inferior quality, or that a high price represents status or poor value-depending on his/her perception.

Question

Quizplus · Accepted Answer

A consumer's perception of price can vary widely, with some associating low prices with good value or poor quality, and high prices with status or not being worth the cost, depending on individual beliefs, experiences, and biases.

A Consumer May Believe That a Low Price Represents a Good