'you get what you pay for'
Not what you're looking for?
The statement 'you get what you pay for' reflects the common perception that high prices indicate high product quality, and, low prices indicate low quality. Irrespective of market structure considerations, is this statement correct?
Purchase this Solution
Solution Summary
The statement 'you get what you pay for' reflects the common perception that high prices indicate high product quality, and, low prices indicate low quality. The solution discusses if this statement is correct.
Solution Preview
In today's business world where consumers have become much more informed, educated as well as demanding, this statement may not be always true, primarily due to the fact that today's companies are striving to provide consumers with the best quality products at the lowest prices in order to sustain competition from companies all over the world. In other words, the advent of information resource like internet, increasing globalization, outsourcing and other new ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
Recent Feedback
- "Thank you. "
- "Thank you"
- "Thank you. I got 20/20 last week for my discussion you help me out with."
- "Thank you. Great Job. "
- "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.