Many factors influence how a human being or consumer will behave. There are also numerous antecedents of human or consumer behaviour. To manage consumer behaviour, it is helpful to understand these antecedents. There are numerous antecedents of consumer behaviour. This paper touches on just some. Price can impact the perception of quality more than the […]

Many factors influence how a human being or consumer will behave. There are also numerous antecedents of human or consumer behaviour. To manage consumer behaviour, it is helpful to understand these antecedents. There are numerous antecedents of consumer behaviour. This paper touches on just some. Price can impact the perception of quality more than the quality.  A famous Stanford University study considered two groups with wines at two price points each and asked consumers to rate their enjoyment of the wine. The findings can be summarised as follows: Wine 1 Priced at $5.00 – received an enjoyment rating of 2.25 out of 6. Priced at $45.00 – received an enjoyment rating of 3.5 out of 6. Wine 2 Priced at $10.00 – received an enjoyment rating of 2.5 out of 6. Priced at $90.00 – received an enjoyment rating of 4.1 out of 6. The findings here point to the impact that…