Consumer perception of quality can be driven by price.

Question

Quizplus · Accepted Answer

Consumer perception of quality can be influenced by the price they pay for a product or service. When a product is priced higher, consumers may associate it with better quality, while lower prices may lead consumers to perceive lower quality. However, this is not always the case, as other factors such as brand image, marketing, and personal experience can also impact perception of quality.

Consumer Perception of Quality Can Be Driven by Price