The Impact of Price on Perceived Product Quality and Consumer Behavior

The price is an important tool of the marketing mix of each company, so it is necessary to devote significant attention to it. It is the only marketing mix tool that brings profit to companies. Many times, we come across with the view that what is expensive is also good. That was the reason why we decided to make this contribution, because we wanted to find out whether consumers really perceive it in this way. The aim of this paper was to find out if consumers really perceive the price as a product quality indicator. In other words, the aim was to determine the impact of price on perceived product quality. We also wanted to identify the most important product quality criteria and the factors that consumers pay increased attention to when deciding to buy the product. For the purposes of fulfilling the aim of the paper, we conducted a survey through a questionnaire distributed by the electronic contact method to a random sample of 200 Slovak companies.