Of course, the actual quality of a product is a vital part of the consumer's perception of a good or service. Quality can describe any attribute of a feature set that makes or breaks a purchasing decision: ease of use, reliability, durability, and so on.
Marketing can influence the overall impression of a product, but, in the end, actual experience with a product determines customer price perception. Outside the realm of mass communication, word of mouth about quality also travels very quickly.
Note that more expensive items are usually perceived as being of better quality. So it’s not a good idea to charge the same price for both low- and high-quality items in your assortment. Besides, customers may think that low-quality products are overpriced and will stop buying them.