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- Title
The Relationship Between Perceived and Objective Price-Quality.
- Authors
Lichtenstein, Donald R.; Burton, Scot
- Abstract
Four studies were conducted to assess the accuracy with which consumers perceive objective price-quality relationships. Results across four studies indicate that, overall, consumers perceive objective price-quality relationships with only a modest degree of accuracy. However, findings also suggest that the accuracy of consumers' perceptions is moderated by product type; that is, price-quality perceptions are more accurate for nondurable products than for durable products. The authors conclude that consumers' price-quality perceptions appear to be a function of general or product-type-specific schemas, rather than independent evaluations of price-quality relationships for individual product categories.
- Subjects
CONSUMER attitudes; PRICES; PRODUCT quality; PRODUCT management; MARKETING strategy; CONSUMER behavior; NONDURABLE goods; PRICING; DURABLE consumer goods; CONSUMER preferences
- Publication
Journal of Marketing Research (JMR), 1989, Vol 26, Issue 4, p429
- ISSN
0022-2437
- Publication type
Article
- DOI
10.2307/3172763