Final answer:
The positioning strategy concerning the perception of quality through price is 'Quality and price'. It relies on the assumption that higher prices indicate better quality, especially when consumer information is incomplete.
Step-by-step explanation:
The positioning strategy that creates the perception of quality through price is Quality and price. When buyers face imperfect information, they may use price as a signal of quality, assuming higher prices indicate better quality. For instance, in situations where buyers consider expensive restaurants, clothing, artwork, or legal services, they tend to believe that the higher cost equates to higher quality, even if they are not experts in the field.
Differentiated products are those that stand out due to their physical attributes, location, intangible features, or consumer perceptions. To become differentiated, a firm can emphasize the distinctiveness of its products in these areas to stand out from competitors.