#4 Price Point & Costing Thoughts Part 4 of 7
How Price Point & Costing Thought
Our perceptions of value are influenced by price
When it comes to our perceptions of value, price is definitely a factor that comes into play. We often associate higher prices with better quality, and this can influence our decision-making. For example, let's say you're considering two different pairs of jeans. One costs $50, while the other costs $100. Which one would you be more inclined to purchase? Most people would say the $100 pair, because they perceive that as being of better quality. However, this isn't always the case. Sometimes, we can be swayed by low prices as well. If we see a pair of jeans that's marked down from $100 to $20, we're more likely to think it's a good deal, even if the quality isn't as good as the $50 pair. So, price definitely plays a role in our perceptions of value. It's important to keep this in mind when making purchase decisions, and to try to look beyond the price tag to see the true value of what you're buying.
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