Which of the following statements is most accurate?
A)For some products, price influences the perception of overall quality, and ultimately value, to consumers.
B)A consumer's view of a product's value is always tied to quality.
C)A consumer's view of value is a function of his or her education and income.
D)Price plays only a small part in a consumer's perceived value of a product or service.
E)Price plays a large role in assessing value but a very minor role in assessing quality.

Question

Quizplus · Accepted Answer

Research has shown that for some products, price can influence the perception of overall quality and ultimately value to consumers. This is especially true for luxury items where a higher price may signal higher quality. However, this is not always the case for all products and consumers may also consider other factors such as brand reputation, features, and personal preferences when determining value.

Which of the Following Statements Is Most Accurate