I don't think people are as price sensitive as is commonly believed. I think consumers broadly don't have reliable signals except for price, so they prioritize what they know. Look at companies where brand is also a reliable indicator of product quality (in popular perception) like Apple or Louis Vuitton. When there's other signals, consumers are frequently willing to prioritize them over price.
Yeah, for many categories of products there's basically two reasonable approaches to buying something: put lots of effort into research, or just buy the cheapest one. Many people are willing to pay more for a better product, but that requires being able to identify the better product.
