Is There A Link Between Price And Quality?
What defines a good product? Is it the quality of the product? Or the price of the product?
This is often the dilemma, especially when choosing between an expensive over a cheap same product. A good number of persons are of the notion that expensive products are determinants for quality products.
Carried over into the sensory perception, high-priced dishes are said to taste better than the low-priced. In as much as this has a ring of truth, it is not always the case.
According to the Journal of Consumer Research, a high price indicates either bad or good value, whereas low price indicates either good value or poor quality. This goes on to show that price is not entirely the ultimate indicator of quality.
You can, therefore, save yourself some money and still get the best quality.
Two ways to figure out an item worth the cost.
Your sense is a good judge of things if you pay attention to it, not allowing packages and positive association of products supersede. Does it feel right? Does it taste good? Does it smell nice? Does it look good? Being able to critique products objectively, allows you to make objective decisions.
Research is knowledge, which makes it everything. People tend to choose the high-priced product when they do not have much knowledge about it. It, however, does not always serve as a protective shield.
What could serve however is getting adequate information before-hand? Learn about the product, the features that are important to the product performance, read reviews and see another person reacts to the product.
Monopoly is almost never the case in the market, therefore look up other producers while comparing and contrasting.
This may all seem like so much hard work but in the long run, it saves the stress.