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 their education and upbringing.
D)Price plays only a small part in a consumer's value of a product or service.
E)Price plays a large role in assessing value but plays a very minor role in assessing quality.

Question

Quizplus · Accepted Answer

Research has shown that for certain products, such as luxury items or high-end electronics, consumers often associate higher prices with higher quality, which affects their perception of overall value. While quality is important, price can also have a significant impact on a consumer's perceived value of a product or service.

Which of the Following Statements Is Most Accurate