Quote:
Originally Posted by simpleyme
I sometimes fill out surveys and they will ask "at what price would you question the quality of this product" I find that interesting as if they make a item too cheap people will perceive it as shoddy so they mark it up.
also a recent survey about toothpaste asked if I used "Premium toothpaste" then defined it as toothpaste that cost over 6 dollars a tube,I thought that was interesting as it was such a meaningless description not the way I would judge a product to be premium
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My mother had been buying her Colgate toothpaste at the dollar store. She figured it was the same stuff they sold at Wal-Mart for 3 times more. Then there was a big recall because the stuff the dollar stores were selling turned out to be counterfeit and potentially dangerous.
As with all things, if the price seems too good to be true, it probably is.
I think price perception is very true. That is part of the problem I sometimes have trying to explain generic medication to patients. Some people think it must not work as well since it is so much cheaper. How can the brand name be $100 and the generic be $4 if they are the same thing?
Of course, that can work the other way, too. I recently learned that the brokerage we have an account with charges a minimum of $70 for a stock trade, and it can be as much as $200. Of course, they are doing the exact same thing that online brokers do for under $10. So why would anyone use the high-priced broker?