Some brands are desirable partially because they are high priced. When consumers use price as a measure of quality a marketer might use product quality pricing.
When a product's high price is matched by its quality, or when a product has a brand label on it this creates an image of a premium product quality item that consumers consider a worthwhile investment.
Suppose when a product brand is superior in quality to its competitors, it is supposed to be also more expensive. Vice versa, a product having a higher price will, at the same time, also be a product of higher quality.
Hence, quality of a product is becoming more important than its price.
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