What defines a good product? Is it the quality of the product? Or the price of the product?
This is often the dilemma, especially when choosing between an expensive over a cheap same product. A good number of persons are of the notion that expensive products are determinants for quality products.
Carried over into the sensory perception, high-priced dishes are said to taste better than the low-priced. In as much as this has a ring of truth, it is not always the case.
According to the Journal of Consumer Research, a high price indicates either bad or good value, whereas low price indicates either good value or poor quality. This goes on to show that price is not entirely the ultimate indicator of quality.
A $570 Cotton Gucci shirt. Photo: Pinterest
You can, therefore, save yourself…
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