This is a partnered post. All thoughts expressed are my own.
Very often we judge a product by its price. A high price is equal to high quality. And a very low priced item does not grab our attention because it is considered to be of very bad quality. Marketing professionals describe this attitude as ‘perceived value’. It means that consumers judge a product’s value based on their inner feeling because they have no idea about its true cost. A consumer just thinks that this item is worth or not worth a price charged and then decides whether to buy it or not. Marketing experts do their best to create such an image of a product that it would associate with good quality and high price.