Article1984

Price‐Quality Correlations in the Japanese Market

27 citations0/0 files storedJournal of Consumer Affairs

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Consumer Market Behavior and Pricing Consumer Behavior and Marketing Influence Consumer Behavior in Brand Consumption and Identification

Abstract

This study tested the consumer's rule of thumb, price indicates quality, in the Japanese market. The data source was the Monthly Consumers product testing magazine published by the Japanese Consumer Association. Spearman's rho correlations of price and quality ranged from +.87 to −.80, with a mean of −.06. The slightly negative, near zero mean correlation indicated that, on the average, price was a very poor indicator of quality. Among product categories, bicycles had the highest mean correlation, +.54; mean correlations for other product categories exhibited considerable variation. Comparisons of correlations within a product category, such as television sets or microwave ovens, revealed that a significant positive correlation at one point in time was not a reliable guide to the level of price‐quality correlation for that product category at later points in time. Comparing results from this study with results from previous studies of Consumer Reports and Consumers Research reveals a smaller percentage of positive correlations and a lower mean correlation for the present study.

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References

1954A Note on Some Experimental Findings About the Meanings of Price 1972Price and Choice Behavior 1977New Evidence on Price and Product Quality 1950Consumer Knowledge: Its Measurement and Extent 1969The Chaos of Competition Indicated by Consumer Reports 1982Informationally Imperfect Consumer Markets: Empirical Findings and Policy Implications 1971Combining price, brand, and store cues to form an impression of product quality

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