Impact of Product Price and Brand Name on Quality Perception Essay

In habitual usage, charge is the quantity of payment or compensation given by wiz party to an new(prenominal) in return for goods or portions. In modern economies, values atomic number 18 generally expressed in units of some bring of currency (For commodities, they be expressed as currency per unit charge of the commodity, e.g. Tshs per kilogram.) Although expenses could be quoted as quantities of other goods or services this sort of avocation exchange is rarely seen. Prices are sometimes quoted in terms of vouchers much(prenominal) as trading stamps and air miles.Brand is the name, term, design, symbol, or any other feature that identifies one sellers good or service as distinct from those of other sellers.Initially, Branding was adopted to differentiate one persons cattle from anothers by subject matter of a distinctive symbol burned into the animals flake off with a hot iron stamp, and was subsequently used in business, merchandise and advertising. A modern exampl e of a send is Coca gage which belongs to the Coca-Cola Company. A marker is the most valuable fixed asset of a Corporation. In general, the product is defined as a thing produced by labor or effort In marketing, a product is anything that ignore be offered to a market that might satisfy a take or need.2.0 PROBLEM ANALYSIS3.0 OBJECTIVES3.1 general objectives name on clients lumber perception of productTo assess the effect of price and brand 3.2 specific objectives* To assess the effect of price on fiber perception* To assess the effect of brand name on quality perceptionHYPOTHESESNull hypotheses* There is negative descent between price and quality perception* There is negative family relationship 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 polishThe consumer quality perception has been a debatable topic for the past so many years around the world previously many researchers urinate studied this topic and found exploratory findings in different contexts. The cardinal purpose of the study is to investigate the impact of product price and brand name on consumers quality perception of the product. The marketer mustiness(prenominal) inspect the consumer buying doings by consumer psychological behavior and brotherly concerns (Shabbir et.al 2012).According to Kurtulus et al. (2005) the influence of consumer psychographics on their tendency to purchase retailer brands, that must be valid and reliable so the consumers are more(prenominal) price conscious and prefer and purchase retailer brands. Most of the consumers need stratagem and quality products that strongly motivate them to buy the same 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 link with the des ire purchasing Behavior of the consumers. produce priceThe product price component is forever been an important factor in customer/consumer buying process in every context. They always examine price and brand name randomness 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 wee-wee to think broader to have a common on two factors such as capability 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 foreground the service quality as well as but excessively 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 only information indicated available. According the study of consumer prefers to hav e a price and quality preferably than technical aspects in durable goods (Chui et al. 2006).Brand nameAnother bring in of branding , from the customer view point,is its ability to increase purchase impudence and enhance customer loyality (Aaker,1991 chaudhuri & holbrook ,2001).Brands work by facilitating the the customers buying decesions process.(Doyle,1990).In a competitive market customer face hundred 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