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 the 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 has shown that consumers often equate price with quality, meaning they perceive higher-priced products as having better quality. However, this does not mean that the relationship between price and quality is always positive or that quality and price always go hand-in-hand. There are examples of lower-priced products that are perceived as high-quality and vice versa. Therefore, option A and D are incorrect. Additionally, option C is also incorrect as research suggests that there is a relationship between perception of quality and price.

Which of the Following Statements Regarding Price and Quality Is