haku: @indexterm CONSUMER ATTITUDES / yhteensä: 469
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| Tekijä: | Kirchler, E. Fischer, F. Hölzl, E. |
| Otsikko: | Price and its relation to objective and subjective product quality: Evidence from the Austrian market |
| Lehti: | Journal of Consumer Policy
2010 : SEP, VOL. 33:3, p. 275-286 |
| Asiasana: | products quality information prices markets consumer behaviour consumer attitudes Austria |
| Kieli: | eng |
| Tiivistelmä: | The correlation between price and product quality (hereafter as: qlty.) is usually found to be low. Yet, consumers use a rule of thumb of higher prices indicating higher qlty. Using data from the Austrian consumer magazine Konsument from 2004 to 2007 for analyzing and for computing pricequality (herein as: p-q.) correlations (as: corrs.), this study confirms the overall p-q. relation to be positive and statistically significant but small (r = .30). It is particularly small in the food and beverages sector and for cosmetics and for inexpensive products generally. By analyzing consumers' subjective beliefs about a p-q. link and product complexity, it is shown that consumers believe that a high price signals high qlty., but that these beliefs are not well calibrated, that is, not corresponding to the product categories where actually higher p-q. corrs. can be found. Summa summarum, the results confirm for the Austrian market that price is a poor signal of qlty., and that consumers are hardly aware of the particular product sectors where this signal is more valid. |
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