Question

A company that produces a popular brand of pasta decides against increasing product price. instead, the management decides to decrease the quantity of packed content from 100gms to 90gms. according to the management, a price increase would risk losing its brand loyal consumers who relate to the brand as affordable. this is an attempt to retain the consumers _____ of their product.

Answer 1

This strategy is an attempt to retain the consumers' perception of their product. Consumers' perception is a marketing concept that has to do with the impression that a company produces about its products. Customers perception is influenced by advertisements, reviews, social media, personal experiences, etc.