Research has shown that consumers' perception of price is mostly related to ______.
A) accessibility
B) quality
C) high prices
D) ownership

Question

Quizplus · Accepted Answer

Research has shown that consumers' perception of price is mostly related to the perceived quality of the product or service. If the consumer believes that a higher price indicates higher quality, they may be willing to pay more for the product or service. On the other hand, if the consumer perceives that a lower price indicates lower quality, they may be less willing to purchase the product or service. Factors such as accessibility, ownership, and high prices may also play a role in consumers' perception of price, but quality is the primary factor.

Research Has Shown That Consumers' Perception of Price Is Mostly