How does the price of a car influence your decision to purchase? They all have four tires, windows, and a steering wheel, right? Well… Cadillac and Mercedes, for example, market to the senses. Their advertising suggests that their higher-priced vehicles will give the purchaser the feeling of driving in continual luxury, and be among the elite in our society. Don’t we see celebrities promoting high-end cars? When is the last time you saw a celebrity promoting a Hyundai?
Does a higher price on an item always mean it is of higher quality? Do certain brand names sway consumers to pay more for a product than a similar one that comes in a generic form? Conversely, does a lower-cost item or service indicate it is of poorer quality? How does pricing influence your purchasing decisions? Do you fall victim to low price = low quality, or do you weigh each item or service based on its own merit? (2 Paragraphs)