Impact of Product Price and Brand Name on Quality Perception

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INTRODUCTION
In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services. In modern economies, prices are generally expressed in units of some form of currency (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 stamps and air miles. Brand is the "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."Initially, Branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot iron stamp, and was subsequently used in business, marketing and advertising. A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company. A brand 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 can be offered to a market that might satisfy a want or need.

2.0 PROBLEM ANALYSIS

3.0 OBJECTIVES
3.1 general objectives
name on customer’s quality perception of product To assess the effect of price and brand 3.2 specific objectives
* To assess the effect of price on quality perception
* To assess the effect of brand name on quality perception

HYPOTHESES
Null hypotheses
* There is negative relationship between price and quality perception * There is negative relationship between brand name and quality perception

Alternative hypotheses
* There is positive relationship between price and quality perception * There is positive relationship between brand name and quality perception

LITERATURE REVIEW
The consumer quality perception has been a debatable...
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