Quality and price relationship – navigating the bidirectional dynamics in turbulent times

<b>Research background and purpose</b>: This study explores the factors influencing the relationship between product quality and pricing, particularly in times of crisis. By examining various dimensions of the business context, the research aims to uncover specific dependencies within the "quality-price relationship". <b>Design/methodology/approach:</b> Utilizing a dual analytical approach, the study first conducts a systematic literature review (SLR) and then applies AI-powered topic modelling to distil and understand the thematic foundations of the selected literature. This methodology offers a nuanced view of how quality and price interact. <b>Findings:</b> The findings reveal that this relationship is significantly affected by several factors, including geographic, industry-specific, and market-oriented elements, as well as consumer demographics and needs. <b>Value added and limitations:</b> However, the study's insights are constrained by the specific analysis period and a narrow thematic focus, which limits the broader applicability of the findings. Practically, the research suggests that the interplay between quality and price varies significantly across different products, services, markets (B2B versus B2C), and crisis contexts. This implies that businesses must tailor their quality management and pricing strategies accordingly. The originality of this paper lies in its unique exploration of the quality-price dynamic, especially through the lens of recent global crises, and its use of advanced analytical techniques combining SLR and AI-driven methods. These findings offer valuable perspectives for both academics and practitioners involved in quality management and marketing decision-making.