Degree

Master of Business Administration Executive

Faculty / School

Faculty of Business Administration (FBA)

Year of Award

2016

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Executive Summary

To draw comparison between price and perceived quality we evolved in variety of consumption situation and lead to particular complex and ambivalent luxury consumer the first component comprises of focus group and interview while second part identifies luxury consumer and their behavior about quality and luxury goods.

This project examines "People Compare pricing zuith quality but not quality to their true meanings" Pricing is the most important and most talked about but least understand by consumer and on another hand they have no defined scheme /formula to illustrate quality. Even in this advance learned and competition era it is necessary to maintain standard quality and continue improve it at all levels Organization need to continually innovate because it is natural phenomenon all system lead to atrophy and only continuous improvement is the only way to keep system relevant distinct and competitive to market demands. New pricing tools and techniques are introduced by focus on smarter buyers strategic and tactical pricing is developing fast with time consumer need change and market evolve and competitor creates 'me too' at a lower price to consumer. As consumer point of view price is used as indicator to judge quality and another word product life determiiie its own quality. Improvement can be done on the bases of feedback by customer and their needs. Quality judgments for things can be classify as mechanism for the perceive quality relationship of existing product in market or benchmark set by competitors. Altering of quality or price of goods/services by marketers may change the consumer perception of value they received. Eow cost product and high quality are more fits to the consumer needs Consumers most of time compute value= quality price. Marketers increase buyer's value perception by increase product quality while maintaining same prices^ or reducing prices while maintain quality^or, of course, by changing both (quality price)3.to measures function and parameter consider by customer it is necessary evaluate real perception of buyer.

Investigators have define apparent value as trade-off for consumer psychological (mental) calculation between the losses and gains expect in transaction^.Also indicated that pricing strategies may impact on awareness of quality for purchaser and prices become an gauge to customer suggested that price information is more indicative than overall product information when forming verdicts of product quality and also effect on product choice as well as consumption / utilization experience.

Pages

51

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