Abstract
Price plays a significant role in product quality in today communities, and consumers may not be aware of the quality and characteristics of the products they buy, despite of presence of distinctive products. They often are not able to compare different brands in terms of the quality. Although many studies on price-quality relationship support this common belief, some other studies indicate that this relationship depends on the specific type of the product, and overall presence of such relationship is less probable. Current work aims at investigating the relationship between product price and purchaser perception of the quality in durable, less durable and non-durable products in Kish Island’s markets as a case study. Three selected products include: LED TV as a durable product, t-shirts as a semi-durable product, and toothpaste as a non-durable product. Research tool is a questionnaire and collected data are analyzed using SPSS V.19 software. Results of the research indicate that price is one of factors reflecting the quality. It was true about t-shirt more than two other products.
Highlights
Reviewed literature indicates that there is no close relationship between product quality and price in today economy, and this pattern is true only for some specific products including lucrative ones [1]
Perceived value is a tradeoff which the consumer performs when evaluating the brand between price and perceived quality [6]
Following questions may come to the minds of the audiences: What is the relationship between price and quality? Does the product with higher price have always higher quality? Should the producers and sellers seek for promoting their product quality to absorb customers or they should reduce the price by decreasing the profit margin? Should always positive relationship between quality and price be stressed or the new market conditions have disturbed this equation and relation? These questions and like that cause that the author seeks for investigating relationship between product price and purchase perception about the product quality
Summary
Reviewed literature indicates that there is no close relationship between product quality and price in today economy, and this pattern is true only for some specific products including lucrative ones [1]. The customer considers five main factors as indexes for his selection so that he will select and purchase the product These factors include: quality, price, available delivery, flexibility and variety in the products for various tastes, and after sales service. These five factors have specific advantages which can be criterion for purchaser’s decision making. Performing this research study helps producers and marketers apply quality indexes for consumers to perceive make decision on pricing, advertisement, etc
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