Which of the following statements regarding price and quality is supported by research?
A) The higher the price, the greater the sales volume.
B) Consumers' perception of product quality is related closely to an item's price.
C) Perception of quality has no relationship to price.
D) Quality and price always go hand-in-hand.

Question

Quizplus · Accepted Answer

Research shows that consumers tend to associate higher prices with higher quality. However, this does not mean that the relationship is always linear or that price is the only factor that affects perceived quality. Other factors such as brand reputation, advertising, and personal experience can also influence consumer perceptions of quality.

Which of the Following Statements Regarding Price and Quality Is