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No price does not affect the quality of a product, in fact, it is quite the opposite. The better the quality of a product, the more expensive this product will be. But don't trust the fact that every expensive product would be of good quality, you just have to know how to test for the best product and the best way would be through a method of sampling.
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∙ 13y ago
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Does the quality determine the price of a product?
most of the times yes but price usually depends on the productivity costs not on the quality of the product. A good quality product can be found in low price as and a bad quality product can be branded and expensive.
Is price a reflection of product quality?
Not at all. Consumers frequently see a product and assume the more expensive the better the quality of the product. Whilst there is, to a degree a fact to this, product price is no guarantee of good quality
If a price increase has little or no effect the demand for the product is?
When a price increase has little or no effect on the demand for a product, it is inelastic.
Which effect does scarcity have on the price of the product if the demand stays the same?
The scarcer the product, the higher the price.
What has the author Jyrki Tapio Penttinen written?
Jyrki Tapio Penttinen has written: 'The role of price in perception of product quality' 'The role of price perception of product quality'
What factor effect the price of product?
salex tax
Why doesnt coke lose its customers when it raises its price?
because of the product itself. customers buy the product not only looking at the price but because of the quality of the product. if consumers are satisfied with the product, they will entertain the product even if it raises price.
The most important customer skill is?
Responsibility while buying a product and ensure if the product suits the quality he / she required. Or it matches the price ( quality)
Why doesnt coke lose all its customers when it raises its price?
because of the product itself. customers buy the product not only looking at the price but because of the quality of the product. if consumers are satisfied with the product, they will entertain the product even if it raises price.
What effect does scarcity have on the price of a product if demand stays the same?
The scarcer the product, the higher the price.
Conclusion of price elasticity of demand?
The conclusion of the price of elasticity of demand is the effect of price change based on the revenue it receives. It is based off the demand of the product and the price of the product.
What is a good product?
A good product is one which satisfies a customer fully in terms of quality, quantity and price.
