PRICE-QUALITY RELATIONSHIP

Simply put, the price quality relationship says that consumer perception is that the higher the price of an item, the better the quality.

PRICE-QUALITY RELATIONSHIP: "Joe always went with the higher priced choice when buying. He always said "don't go cheap"."
Cite this page: N., Pam M.S., "PRICE-QUALITY RELATIONSHIP," in PsychologyDictionary.org, April 28, 2013, https://psychologydictionary.org/price-quality-relationship/ (accessed October 15, 2019).
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