AUTHOR:
M.J. Alhabeeb
ABSTRACT:
Under the conditions of imperfect information market, and in the highly competitive world of a large number of brands of goods and services, consumers face a higher degree of ambiguity in evaluating their purchases and reaching the right choices, especially when it comes to assessing the quality of the many products they buy. Due to the impractical nature and high cost of money, time, and energy to conduct search and comparative assessment to each and everyone of the products which consumers deal with, consumers are more likely to depend on certain cues to estimate quality.
Drawing on evidence from both the theoretical and empirical research, this paper explores what consumers use as cues to indicate the level of quality of the product they purchase or plan to purchase. The underlying logic of the signaling theory and its applications in business and consumer economics is examined.
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