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The price-quality relationship: A heuristic model |
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| Authors: | BM Wainstein HS Sichel |
| Abstract: | An on-the-shop-floor experiment is carried out to determine the price-quality relationship for a number of toiletries. Three different and distinct demand curves are obtained. A heuristic model to describe these curves is constructed. The implications of this model for the profit-orientated businessman are then analysed. |
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