CHOOSING PRICE OVER QUALITY
When you’re out shopping and looking to score a deal, are you guilty of considering price first, and then quality?
We all have certain budget to buy a product, which is the main driver for our decisions. We browse online comparing different options or visit a store to know the real product itself, but how to know exactly if our choice is the right one?.
From the client’s perspective considering price as a very important factor in most cases ,sellers often have to compete and educate consumers to justify the price and service.
This leads to consideration of various factors that surround your product, what we can call the "product ecology". Its not a secret that some clients are always looking for the cheapest product, as for them the target product means a recyclable object which will not be used for a long period of time, so they are not willing to invest a good amount of money on it, while others, look higher prices as a mean of excellent quality, higher specifications and social status among their social circle, creating a complete set of expectations just regarding the price.
The easiest way to escape the hassle is to help customers, communicate the benefits and listen to their actual needs. Every product has target set of consumers, who can buy it and feel satisfied . It’s the responsibility of each business to identify the target set of consumers and justify the product with best price, best quality and best service. Considering these factors would certainly build-up a promising future for your organization.
Selecting quality over price has always proved effective as if you see the brands which today provide excellent product and service making it worth whatever price they charge. Past few years we can see various examples of top companies from different sectors justifying the above statement as more successful organizations make quality and service a top priority.
When we talk about quality ,it's a sum of knowledge of the product we are selling. When we talk about price ,it's about the sum of the value and satisfaction that the product will generate for the client.
A buyer should always balance his purchases to select an item which can be used for a satisfactory duration , and which can create a real benefit, even if he has to pay a little higher, most of the times higher prices with a clear set of benefits is the best deal you will ever find.
Do let us know your thoughts, next time will you choose lower price? Or better products for your customers?