Which is more important quality or price?

The quality of the product (77\%), its price (53\%) and the brand name or the parent brand (34\%) are notably more important when deciding what to buy, according to YouGov’s latest survey. The survey was conducted on 1024 sample of urban Indians across 200 cities in the country.

Why is it necessary to consider the quality of the product aside from the price?

Product quality is important because it affects the success of the company and helps establish its reputation in customer markets. When companies can create high-quality products that continue to meet customer demands, it can lead to fewer production costs, higher investment returns and increases in revenue.

Does price determine the quality of a product?

Summary: A study shows that marketers of relatively high-priced products should consider keeping prices high, as many consumers associate high price with high quality.

What is the difference between product and prices quality?

Generally speaking, the higher the price of a product, the higher the quality. The price of a product is a good indicator of its quality.

Why quality is important to a consumer?

A quality product creates unshakeable customer loyalty that generates increased leads. When customers find a product they trust, they return, make repeat purchases, and recommend the product or service to others. Creating quality products will continue to be the most important thing to customers.

Why price is important than quality?

Consumers generally rely more on price as a reflection of quality when they see the purchase as being risky, when they have low self-confidence and lack product experience and when there are no criteria for judging the performance of the product.

Why are high quality products important?

It builds trust with your customers. By contrast, when you gain the confidence and loyalty of consumers, you have more freedom to make decisions such as raising prices. Ensuring high-quality products and services is one way to help you get consumers to appreciate and believe in what you have to offer.

What are the most important factor in product or brand decision?

The most important and first on this list is the Economic Factor. This one is the main foundation of any purchasing decision. The reason is simple people can’t buy what they can’t afford. The need of a product also doesn’t play a role here, but the most important thing is affordability.

Why quality is important to the consumer?

What makes a product high quality?

Good products must have a solid value proposition and solve a real problem, be understandable by users, perform their task as easily and efficiently as possible, and become better and harder to part with the more they are used.

Why are high quality products more expensive?

They are usually higher priced because they have built a reputation for quality and trust, but this doesn’t mean the other choices aren’t just as good! Production costs: If it costs more to make a product, the price sold to you will often be higher so companies can make a profit.