How does product pricing influence customer perceptions of product quality?

Question

Multiple choice question.

Customers often associate lower prices with lower quality.

Customers usually make no association between quality and price.

Customers often associate lower prices with higher quality.

Customer purchases are driven exclusively by price, not quality.

Answer 1

The correct answer is:

Customers often associate lower prices with lower quality.

This reflects the common perception that higher prices can indicate better quality, while lower prices might suggest inferior quality.