QPB (Quality Price Shield) is a concept that combines quality and price considerations in consumer decision-making. It refers to a scenario where consumers are willing to pay a higher price for a product or service if it offers superior quality or value compared to alternatives. The QPB principle suggests that consumers seek a balance between quality and price, aiming to maximize their satisfaction within their budget constraints.
This concept is based on the idea that consumers perceive the overall value of a product by considering both its quality and its price tag. Businesses often strive to offer products that provide a quality-price balance that appeals to their target customers, ensuring a competitive advantage in the market. By understanding the QPB concept, businesses can better align their pricing and quality strategies to meet consumer expectations and enhance their market positioning.