The balance between price and quality and the psychological decision making behind it has always been a challenge for marketers. If you want to balance price and quality, then you need to decide what type of customers you are going to target. At the same time, you need to consider the competition as well. Customers decide the value based on the competitors present in the market and what the competition is offering to the customer. Overall, each and every company out there is daily trying to improve their quality at an optimum price. Some have been able to do that and they are getting a higher pull from the market. Others have not been able to balance price and quality which has resulted in the brand being forgotten and a competition brand being adopted in their place.