DoesHighPriceEqualHighQuality?
Whenaskedabouthowtodifferentiategoodproductsfrombadones,quiteanumberofpeopletakeitforgrantedthathighpriceequalshighquality.Confrontedwithuncertaintyabouttheintrinsicvalueoftheproducts.consumerssimplyusetheruleofthumbthattheyunderstand.Theybelievethathigh—qualityproductsneedhighcost,resultinginhighprice.Inaword,pricereflectsquality.
However.otherswhoholdtheoppositeopinionarguethatthereisnonecessaryone-to-onecorrespondencebetweenqualityandprice.Havingbeenexposedtonewsaboutfakeproductsandfraud,manycustomerscometorealizethatsalesmenalsochargehighpriceforlow-qualityproducts.Theyaresupportedbyarecentcasethatafamousluxuryfurniturebrandisfoundtocheatcustomerswithlow-qualityproducts.
AsfarasI’mconcerned.onlywhenbusinessistransparent,honestandfreefromdeception,canhighpriceequalhighquality.Therefore,inthecurrentcircumstance,wecan'tdeterminethequalityofoneproductsolelybyitsprice.