Unit 5 Extra Credit: Is Price an Indicator of Quality?

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Short interview here Links to an external site. with the founders of Warby Parker Links to an external site., a fashion and eyewear disruptor.  Check it out, and then send me an email or a video explaining the following.

How do customers perceive the cost of a product in relationship to its quality?

What does Warby Parker do differently from its competitors?  How does this create a "competitive advantage"? (ch. 11.2 Links to an external site.)

Why might a business charge more than absolutely necessary to be profitable for its product or service?

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