Impact of Product Price and Brand Name on Quality Perception Essay

In ordinary usage, charge is the quantity of payment or wages given by one party to another in draw for well-groundeds or service. In modern economies, expenditures argon generally expressed in units of some form of silver (For commodities, they are expressed as currency per unit weight of the commodity, e.g. Tshs per kilogram.) Although prices could be quoted as quantities of other goods or services this sort of barter exchange is rarely seen. Prices are sometimes quoted in terms of vouchers such as trading st international group Aeres and air miles.Brand is the soma, term, design, symbol, or any other feature that identifies one sellers good or service as distinct from those of other sellers.Initially, Branding was follow to differentiate one persons cattle from anothers by means of a distinctive symbol burned into the faunas skin with a hot iron stamp, and was subsequently apply in business, marketing and advertising. A modern example of a snitch is Coca Cola which bel ongs to the Coca-Cola Company. A chump is the most valuable indomitable asset of a Corporation. In general, the harvest-home is defined as a thing produced by labor or effort In marketing, a product is anything that can be offered to a market that might reciprocate a want or need.2.0 PROBLEM ANALYSIS3.0 OBJECTIVES3.1 general objectives nurture on customers superior comprehension of productTo tax the effect of price and grass 3.2 specific objectives* To assess the effect of price on tonus learning* To assess the effect of brand name on quality perceptual experienceHYPOTHESESNull hypotheses* thither is negative blood between price and quality perception* in that respect is negative kinship between brand name and quality perceptionAlternative hypotheses* There is positive relationship between price and quality perception* There is positive relationship between brand name and quality perceptionLITERATURE REVIEWThe consumer quality perception has been a debatable theme fo r the past so many years around the world antecedently many researchers fuddle studied this topic and found exploratory findings in different contexts. The central purpose of the study is to investigate the impact of product price and brand name on consumers quality perception of the product. The marketer must inspect the consumer purchasing behavior by consumer mental behavior and social concerns (Shabbir et.al 2012).According to Kurtulus et al. (2005) the influence of consumer psychographics on their tendency to leverage retailer brands, that must be valid and reliable so the consumers are more price conscious and prefer and bargain for retailer brands. nigh of the consumers need convenience and quality products that strongly motivate them to buy the homogeneous product more frequently in the future (Ahuja, Gupta, & Raman, 2003). Ahmad, & Vays, (2011) found that the pre-decision time of consumer purchasing behavior recognized solid cogitate with the desire purchasing Behavior of the consumers.Product priceThe product price factor is always been an important factor in customer/consumer buying process in every context. They always examine price and brand name information differently when they are making judgments on the dimensions of quality ease of use, usefulness, performance, durability, and status (Brucks, Zeithaml & Naylor, 2000). The marketing managers have to think broader to have a common on two factors such as force control and strategic dynamic pricing policies (Moe & Fader, 2009).The customer must be facilitated with some packages in products. Bie & Chiao (2001) found that the marketing managers should cozy up the service quality as well as but as well price fairness in total consumer satisfaction program. According to Chang & Wildt (1998) the price has its significant influence on perceived quality when it is the except information indicated available. According the study of consumer prefers to have a price and quality rather than technical aspects in durable goods (Chui et al. 2006).Brand name some other benefit of branding , from the customer view point,is its ability to increase purchase confidence and enhance customer loyality (Aaker,1991 chaudhuri &amp holbrook ,2001).Brands work by facilitating the the customers buying decesions process.(Doyle,1990).In a competitive market customer face snow of products and messages competing for attention.the buying decisions are reliant on their past experience and perception about a product and his habitual buying process is associated with brand loyalty