A company that produces a popular brand of pasta decides against increasing product price.Instead,the management decides to decrease the quantity of packed content from 100gms to 90gms.According to the management,a price increase would risk losing its brand loyal consumers who relate to the brand as affordable.This is an attempt to retain the consumers' _____ of their product.

Question

Quizplus · Accepted Answer

The management's decision to decrease the quantity of packed content while not increasing the price shows that they are attempting to maintain the consumers' perception of their product as affordable. Perception refers to how individuals interpret and comprehend information from their environment, including how they perceive a certain product or brand. In this case, the management is trying to ensure that consumers maintain their perception of the product as affordable, rather than risking losing them with a price increase.

A Company That Produces a Popular Brand of Pasta Decides