4.3.4 Consumer perception toward the price of Heineken
Also mentioned buyers are price seekers-those who look for low price, as a result, for some consumers having inexpensive product means achieving high value. Some consumers might associate low price with low quality. Those consumers who think price is an indicator of quality and companies might reduce the quality of the product to minimize the cost. Thus, to them the higher price is a signal of a better quality.
Moreover consumers relate price and quality with self-esteems. The increase in quality content and the higher price has a positive relation with our self-esteems. If the economic situation is good for all, majority want to eat high quality food.