Price and Quality: Perceived Value
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Please discuss the price and quality relationship and the perceived value for the product listed below:
The "Tint When You Need It" product can be a new line that could expand the availability of products for Transitions Optical. This product can be expanded to industries such as the automobile industry, housing, and commercial building markets. In the automobile industry the windows could tint during the day when the sun is reducing the visibility and the glass would not have tint during nighttime driving conditions.
This technology will be beneficial in the urban areas of the southern portion of the United States. In these areas, the "Tint When You Need It" glass could be installed in high-rise commercial buildings to provide tint throughout the day and clear glass at night. Our customers would experience a reduction in cooling costs over the life of the product and still be able to enjoy the city's skyline at night.
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Solution Summary
This is a discussion on the relationship between price and quality for a new product called "Tint When You Need It".
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A marketer's job is to make sure that consumers not only are attracted to purchase your product in the first place, but that they become repeat customer. In the ideal situation, the customer would become brand loyal to your brand.
How can you achieve this? The customer firstly has to be satisfied with your product. This is a given. For this to happen, they have to be satisfied withe the quality of your product. If your glass does not perform to a customer's expectations, they will not be happy. They will be disappointed in the quality of the product. And next time they purchase a car, they will decide not to get the Tint product.
Another layer is the fact that customers have to think that they are getting a good price for the product. In other words, the price that they pay for the quality of glass that they ...
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