Do you get what you pay for? It depends on your culture
Consumers from less individualistic cultures are more likely to judge the quality of a product by its price, according to a new study in the Journal of Consumer Research.
"Culture influences the tendency to use the price of a product to judge its quality. Although price-quality judgments are made by consumers across cultures, less individualistic consumers (Koreans, Japanese, Indians, Chinese) rely more on price to judge quality than do individualists (Americans, British, French, Canadians, Australians)," write authors Ashok K. Lalwani (Indiana University) and Sharon ...