Question

When there are alternative products in a market, all of which meet performance quality standards, the product chosen is the one that meets market-perceived quality attributes. True or False?

Answer 1

In a market with alternative products, the product chosen is based on market-perceived quality attributes.

Step-by-step explanation:

In a market with alternative products that meet performance quality standards, the product chosen is the one that meets market-perceived quality attributes. This means that buyers rely on their perception of quality rather than objective measures when making a purchase decision. For example, they might assume that a higher price indicates higher quality, even if they are not experts in the field.