Brand positioning has a significant impact on how consumers perceive the price of a product. If a brand is positioned as a premium or luxury option, consumers are often willing to pay higher prices because of the associated perception of quality, exclusivity or status. On the other hand, if a brand is positioned as an economy or value option, consumers will seek the best possible price and value for money will be critical. In both cases, positioning sets the framework through which customers interpret and justify the price of the product.