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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.
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∙ 9y ago
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How can firms use marginal analysis to determine the price of a product?
They can use this information to determine how much the consumer will buy the product for. The price must be enough to make a profit or producing the item is not worth it.
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 aims to use price to send consumers a message about the high quality and exclusivity of a product?
Prestige pricing
Why do prices of product and services change?
The term price is to demote the value of the things or service obtained the price may change for every object and service depending upon the quality and importance of the product or service we obtain.
What factors determine the demand for labor?
causes a movement along the MRP curve: -wage rate causes a shift of the MRP curve: -price of capital -changes in productivity -changes in the price of the firm's product -demand for the product
What is difference between price and value?
Price is what something costs; value is what something is worth. Quality of the product will determine it's overall value relative to it's cost.
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
Does price effect the quality of product?
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.
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 are the factors affecting product design?
The factors that determine or affect a product design are as follows:Requirements of targeted customers.Availability and access to necessary production facilities.Type and quality of raw-materials used to produce a product.Cost to price ratio.Policy of quality standards.Availability of plant and machineries.Impact of upcoming product on existing products of the company.Reputation or goodwill of the company.
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.
How can firms use marginal analysis to determine the price of a product?
They can use this information to determine how much the consumer will buy the product for. The price must be enough to make a profit or producing the item is not worth it.
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 is a good product?
A good product is one which satisfies a customer fully in terms of quality, quantity and price.
What would decrease the quanity of a product sold in a competive market?
The price, the quality
Will you buy an elegant vegan product or a leather i.e. a nonvegan product for the same price?
I guess it depends on how elegant, what the quality is, etc. If they were exactly the same level of elegant, same level of quality, same price, then I would go for the non animal product. If the leather was better quality, I would go for that instead.
