An assessment of consumer behavior in the quality to price relationship of tomatoes in the Slovak Republic environment
DOI:
https://doi.org/10.15549/jeecar.v7i3.528Keywords:
consumer experience, price expectations, consumer behavior, price effect, descriptive statisticsAbstract
The aim of this research was to compare consumer expectations of quality of tomatoes based on disclosed price and later estimate the unknown price of tomatoes based on its tasting. One hundred six participants tasted four types of tomatoes with disclosed prices and with unknow prices and fulfilled the questionnaire. We focused on analysing how recognition of prices affects customer behaviour and price estimation of additional products. Using descriptive statistics and machine learning techniques in WEKA software we got results. The findings of this study corroborate that the knowledge of current prices significantly affected participants’ perception of the quality of the tomatoes being tasted; affected 63,21% students’ maximum price limits that they are willing to pay for tomatoes and make 32,77% of students use known prices and its rounded values to evaluate prices of additional products.
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