The perceived value of a product is directly related to its perceived quality and inversely related to its price.
The perceived value of a product is directly related to its perceived quality and inversely related to its price.
Assuming that we keep the perceived quality constant, explain what would happen to the perceived value of the product if we increase its price.
Explain what will happen if we decrease its price.
Conversely, if we keep the price constant, explain what will happen to the product\’s perceived value if we increase its perceived quality.
Explain what will happen if we decrease its perceived quality.
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