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Customers always think if they pay higher price they get durable and best quality products.what is the mind set of customer behind all this theory and how companies got benefited by this type of customer behavior??your reviews please.
Up to some extent high price is the indication of good quality. But mostly people are status conscious, that's why they consume branded products at high price. And the marketers are taking advantage by launching new brands at higher prices.
It's a question of human culture and I believe that is truth in general .
In fair market and clean
Will be the precious things of high quality
So says the logic
But the differences for each base
Personal convictions are not looking at price
But I'm trying to search quality
It's a very strong perception prevailing in the market and is the effect of huge investment made to spread the message thru various channels. It' s human nature to always look up the ladder to grab the so called higher level irrespective of the socioeconomic reasons. When the buyer and the seller are ill informed on alternatives, needs and value propositions then they are most likely to get trapped.
Therefore it is very important to develop the knowledge and skill sets of the involved sellers to bring in the awareness among the prospective buyers and to clear their perceived thoughts. To role this tons of sincere efforts are required and once the rolling starts it becomes steady.
There is a difference between buying quality and buying brands.
-Quality is logically expensive so YES high price is an indication.
-Brands (not all) are insanely expensive, so high price is not an indication of only quality you're buying a full package.
Thank You.
Not all people, if someone have Extra money & don't know where to use so always he/she will consider higher price product as good quality product.
High prices is not the indication of good quality, if branded companies will start to make good things, how they will get more business & how they will achieve yearly30 -40% increased target.
I would like to share a quote with you.
However you have a Maruti or BMW the roads remains the same.
whether you travel economy class or business class your destination doesn't change.
Whether you have a Titan or a Rolex the time is the same.
Whether you have apple samsung lava, people who cal you remains the same.
There is nothing wrong in dreaming a luxurious life
Whats needs to be taken care of is to not let the Need become Greed.
Because Needs can always be met.. but Greed can never be fulfilled.. RajiniKanth
Because some customers are brand conscious.They are aware of popular brands and wanting to buy particular or only specific brands rather than others. Every company introduced or launch his products in the market according to customer choice, quality, taste, demand, lifestyle, age and education. etc. If the company reduce his profit of the product and increase the sale volume and also provide the better product quality to customer the company definitely takes the advantage from this types of customers. Because company know about it.
No. If the product is expensive its not always good. The pricing should include transfer of goods, and advertisement on a tv spends.
But sometimes it also can talk about the quality of ingredients.
We can’t ignore quality & durability of high price product, moreover these is BRAND name also attach to it. Which itself talks a lot about product.
A good brand is an indicator of good quality and people are brand conscious. For Example: Sony Televisions history and people's experiences of buying them have been outstanding mostly with very little to complain about... and they sell like hot cakes despite their slightly higher prices and lack of features in comparison to the competitors. Same can be said for Gillette, Apple, Microsoft Operating systems etc.. The same is not always the case, but from a marketing perspective... It's easy for customers to rely on buying products from trusted brands.However I'd also like to add that today's customers are not the same as before... People are making smarter purchase decisions and the trends are slowly changing. Any smart buyer is likely to check reviews (offline/ or online), ask opinions and do a good thorough market survey before going for the purchase decision.Marketing advertisements may influence a client to buy a certain product, But I wouldn't attribute the entire credit to it. It's still a major and integral component of the consumer buying process.
