What is a characteristic of the price-quality relationship, in the absence of other cues?
A) Many buyers interpret low prices as signals of high-quality products.
B) Price offers no clue of a product's quality to prospective purchasers.
C) Price is an important indicator of product quality to consumers.
D) The relationship between price and quality holds true only in declining economies.

Question

Quizplus · Accepted Answer

Price is often used by consumers as an indicator of product quality, especially when they have no other information about the product. This is because higher prices are frequently perceived to reflect higher quality materials, better craftsmanship, or additional features.

What Is a Characteristic of the Price-Quality Relationship, in the Absence