PDA

View Full Version : Quality vs Lower Priced Items - The Eternal Battle



Ted255
01-22-2014, 06:55 AM
The quality of our business and out products will always be the most important factor in our success. It doesn't matter if we have a coffee shop, are selling flowers or have an internet marketing business. Sometimes, although we bring our best game to the table and out products have a much higher quality than that of any competitor, we still are not a success. Some competitor does better just because they sell at a lower price. This happens in every industry and in most cases the products are of really low value. So, the question is: why do some people buy lower priced items that are clearly of substandard quality? Why don't they invest in a quality product that is going to last 10-20 times longer than the cheaper one?

I guess we have all done this. Sometimes I buy cheaper priced items just because they are cheap or because I can buy more items with the money I would pay to get 1 high quality product. But can I explain why I choose to do this? Not really. I think it's probably something we are born with. The instinct of saving money and paying less rather than more. Sometimes our family teaches us how to do this. If they always buy what's cheaper we will inevitably think that this is the right way to do things. So, we will usually go with the cheaper option.

What do you guys think about this? Do you opt for quality over quantity? Do you give in to the temptation of buying what's cheap?

nick87
01-22-2014, 05:58 PM
It really is an eternal battle to find the right compromise between quality and quantity. Sometimes it's because the consumer doesn't consider the value of the product to be enough to pay for the high quality's price, other times it's because the customer needs (or just wants) a product sooner rather than later when it comes to saving for a product.
A good way to look at it is that value isn't just the quality and price, but also the convenience it brings to the consumer. Most people would rather get a cheap hamburger from McDonald's for a dollar if McDonald's is close by rather than traveling 10 more miles to get to a more expensive but better quality place. Likewise, some people would rather go to the quality but more expensive place if it's closer than the cheap one, and others are motivated more by cost than distance convenience, etc.

delusional
01-23-2014, 03:39 AM
I always try to figure out what the quality to money ratio is. For example, I'm looking for a bluetooth speaker right now. I have found several models priced above $200 (not one for a phone, a large speaker with decent bass response). I also recently found one for $89 that even seems to have a better response but is from a brand that is known to produce cheap items.

I'm not sure which one I'll buy but I'm leaning towards the cheaper model.

crimsonghost747
01-23-2014, 04:27 AM
When deciding which way to go, it's important to do some market research in the area where you will be operating. You need to have an advantage that sets you apart from the rest, whether that advantage is quality of price, that depends on the area, your competition and the product you are selling.

For example: you mentioned a flower shop. I'd never imagine making a cheap flower shop with low quality flowers. These are things that are bought for mainly for special occasions and people won't mind paying a bit more to have a beautiful one.

owesem75
01-23-2014, 08:03 AM
Sometimes, consumer buy out of practicality hence, buying on a LOWER PRICED items. There are quality products being sold on a higher amount like household furniture, kitchen utensils, specially if you are buying them on a high-end stores. But, there there are products of the same purpose being sold in IKEA (just for example). I think, if you are on the higher end of the society with so much money to spend, then go for quality. Otherwise, lower priced items are just enough to serve the same purpose.

fredkawig
01-23-2014, 09:11 AM
I actually buy cheap items for the sakes of not being too stressed when it breaks or gets destroyed. The problem nowadays is that everything is made in China. Believe it or not, these items are the worst especially in terms of quality, no offense to the Chinese, but these items are just not worth it. If I'm planning to sell items for customers I would opt for both Quality and Price. What do I mean by this? I would have to sell the best and the highest quality of product that will compete against every other product and give the best price for it. This becomes a win-win situation and the secret to competitive pricing.

MLeoCasas
01-27-2014, 11:17 AM
This is really the question that lies at the core of the 'turnover v. profit margin' debate. On one hand you look at a company like awl-mart that dominates the market by selling a ton of generic products at incredibly low prices (and thus, low profit per item), on the other hand you have Apple, which keeps it brand constantly at the cutting edge in order to sell a fewer items at a seemingly insane profit per item. Which is approach is better? It depends entirely on your product/service. If you're running a car dealership then clearly the Apple approach is for you...but this is not so if your web hosting because the market is saturated with competition.

What's most important is to identify the number of competitors and level of competition your working with then market accordingly. People want to hear things like 'affordable brand clothing' but NEVER want to hear a phrase like 'discount milk' or ' budgeted jewelry.'

blaze4545
01-27-2014, 11:24 AM
I guess it depends on the situation for me. A lot of products are cheaper and still have the same quality as a more expensive alternative, they are just not name brand. With this, I like to order some of the cheaper alternatives and do a trial run. Offer it to your customers and tell them that you are considering using a new supplier because the product is easier to get. If they complain that the newer, cheaper product is worse then stick with the more expensive. Overall though, I prefer to sell quality over quantity. Yes people are going to look for the cheapest item, but when it breaks or does not meet their needs like that of a quality product, they go to complain to you and you must deal with an upset customer and possibly a hurt business.

swagger
01-27-2014, 07:01 PM
It really does depend on what I'm buying. If I'm buying electronics, or something I'll be using for some time, then I'll invest in the better product. If it's something that'll last a short period of time like food, I'll invest in a less expensive product (generally). So, for me, it really depends on what the item I'm looking to buy is.

Rainman
01-28-2014, 04:15 AM
The mistake we make here is make the assumption that lower-priced items are of a lower quality than expensive items. We have to take into consideration the cost of production [which factors in determining the price of a product]. Chinese workers for example are paid less than American workers. For that reason therefore; products made in China are cheaper than those produced in America regardless of the quality. I have used cheap items in the past which could do as good a job as a similar product that is probably being sold at double the price I bought it at. IMO, the quality of a product is not directly related to it's price. Even if it is, if I can get a cheaper alternative I'd go for it. That's what matters most - getting the best deal.

cpefley
01-28-2014, 04:29 AM
In my opinion, I think you should take your own advice. If you buy cheaper items because the price tag appeals to you, then maybe that is your best strategy. I would honestly want a higher quality product that I don't have to replace often, but that's just me. I think that people sometimes are cheap and just want to afford more 'stuff' rather than have quality 'stuff'. I'm for quality over quantity.

LindaKay
01-29-2014, 04:30 PM
I think it depends on what the product is, what it is used for, what the person will reasonably expect and just how much cheaper or more expensive it is than a higher-quality item.

In most cases, finding something in-between that is a good value and reasonably good quality is the best option. That's my opinion, anyway.

Normal Jim
01-30-2014, 06:10 PM
Buying what is cheap is the scary part. You are never a hundred percent sure that it is going to turn out well. I would honestly recommend going for quality. People will most likely come back.

DomDom
01-31-2014, 08:03 AM
I think it depends on what the product is, what it is used for, what the person will reasonably expect and just how much cheaper or more expensive it is than a higher-quality item.

In most cases, finding something in-between that is a good value and reasonably good quality is the best option. That's my opinion, anyway.

I completely agree with this. Some things you can buy cheap and have the same quality as the top dollar items, other things there are huge differences between the best and the worst! You should check all the offerings and test use the items to your needs. The solution will probably be somewhere in the middle!

SimplySidy
02-01-2014, 06:17 AM
I think it depends on what the product is, what it is used for, what the person will reasonably expect and just how much cheaper or more expensive it is than a higher-quality item.

In most cases, finding something in-between that is a good value and reasonably good quality is the best option. That's my opinion, anyway.

I must second this as this is what I have been doing since I started out buying things for me or family. If can wait to have more funds for a product that I need, I will. Opting for something which is cheap, though doesnt necessarily make it bad, but then, my experience with such products has been miserable.

nowicki2013
02-01-2014, 01:25 PM
I think this all depends on who your customer base is. If your product is more for people who don't have a lot of money then lower priced items are obviously the way to go. If you're marketing towards middle upper-class people that you have to go with quality. If you don't have quality products people will never buy from you again and might even want their money refunded. However, even if I was selling to lower-class people I still would never outsource any of my work to China. This is America and outsourcing any work out of this country for cheaper labor is simply Un-American!

Lodismel
02-04-2014, 02:18 PM
This is the same for any business. Quality vs. Quantity is always changing. You have to stay on top of it. You can't spend too much time or too much resources just to have a slightly better quality product. You don't want to have a product that isn't good enough either. So you basically have to do extensive research to find what works best. Every different kind of product requires a different equilibrium to attain maximum profitability.

Thrix
02-04-2014, 03:05 PM
Adding value > discounting.

It's true that discounting can kick start your sales, but it just hurts them in the long run. Why? Because you will get used to discounting items, and your customers will get addicted to it as well. And at one point, they will stop buying anything that's not discounted. You don't want that, right?

Instead you should add value to your products/services. Improve it, make it more appealing, or make a special offer that feels like a discount. For example getting 2+1 if they order within x hours or something like that.

alec
02-06-2014, 03:08 PM
One more thing to factor in regarding quality vs lower priced items is the location of your business. If you're located in areas with low income residents the purchase of lower quality items is higher and if your business is located in a rich area the residents will buy more quality products knowing that their money is better spent in the long run. A good example is what I've seen in some poorer countries where dollar stores are the norm since people have low income and better quality items are not an option. So, they happily purchase cheap items knowing they can't afford quality while the only other option is second hand items. Sad really.

cerveausys
02-10-2014, 02:05 AM
I always opt Quality over quantity.. because quality always matters in any organization's success.

caveman
02-10-2014, 09:30 AM
I always opt for quality over quantity. This is because I feel that consumers would rather buy something that is worth it. Even for me, whenever i browse around a store, I always think of quality before anything else. Who wants to buy something that is not going to last a long time? So definitely quality > quantity.

sdsnook
02-10-2014, 10:47 AM
Unfortunately, we live in a throw away society.... the you get what you pay for saying is still all inclusive. It seems to me people don't care too much what they pay as long as they get what they want. Yes, they do have the luxury of shopping around via the Internet, but few do comparison shopping. Perhaps that would be a good business to get into shopper smart so you don' t have to!?! Any takers, I would definitely shop thru someone who would take the time to compare for me, until then the first thing I see will be the first thing I get.... ahhh beautiful first impulses!

SmartPea85
02-10-2014, 06:05 PM
If you're located in areas with low income residents the purchase of lower quality items is higher and if your business is located in a rich area the residents will buy more quality products knowing that their money is better spent in the long run.
I agree. I think you really have to take your economic location into consideration before you set your prices. People around you may want to use your goods and services, but may be financially unable to do so, which is disappointing for them and bad for your business.

You should also consider who your target audience is. Say you are in the baby-needs business. As much as they want the best for their child, would a single new mom working part-time or not at all really have the money to spend on that superior-quality baby product? Probably not. Are you running a hair-accessory line for young girls? Would a little girl on a small allowance be able to pay for the items you have for sale? If they are way too out of her price-range, you're missing out on a potential customer and hundreds just like her.

It's easy for people to say quality over quantity, and usually we believe that to be true. But I agree depending on the specifics of your business and who you're looking to sell to, it might not be the best way to get customers in your door.

pahagwl
02-20-2014, 04:33 AM
I am of the opinion that the quality of the products should be of a good standard. Sometimes, businesses try to compromise on the quality of the product in order to achieve more sales or to earn more profit but these strategies generally fail. This is because it is the quality of the product which builds customer respect and loyalty. A customer would only demand more of a product if it is satisfied with the quality of service the product offers. In terms of consumer durables, the quality of a product is the aspect which could make or destroy a business.

gadgetised
02-20-2014, 04:38 AM
I usually go for the more expensive item to guarantee quality. There is nothing I hate more than buying a piece of crap that I need to return not long after I bought it. Price buys quality, that's the way it goes. Most people will go for quality if they can afford it.

WeDontSleep
02-20-2014, 09:29 AM
Just like most people who replied to this thread I too am of the opinion that it is better to pay a little extra for whatever item you are buying just because it assures you that you will get the best quality product. The last chat item that I purchased was this cheap little microphone for my PC and guess what, my friends were complaining that the sound quality was horrible and on top of that, it broke 1 week later. I decided that I shouldn't waste my money on these cheap and unreliable microphones and instead buy a good expensive one, it did cost almost 5 times more that the cheat one, but almost 3 years later it still works like it did the first day I bought it.

chelleeann
02-21-2014, 11:10 AM
The quality of our business and out products will always be the most important factor in our success. It doesn't matter if we have a coffee shop, are selling flowers or have an internet marketing business. Sometimes, although we bring our best game to the table and out products have a much higher quality than that of any competitor, we still are not a success. Some competitor does better just because they sell at a lower price. This happens in every industry and in most cases the products are of really low value. So, the question is: why do some people buy lower priced items that are clearly of substandard quality? Why don't they invest in a quality product that is going to last 10-20 times longer than the cheaper one?

I guess we have all done this. Sometimes I buy cheaper priced items just because they are cheap or because I can buy more items with the money I would pay to get 1 high quality product. But can I explain why I choose to do this? Not really. I think it's probably something we are born with. The instinct of saving money and paying less rather than more. Sometimes our family teaches us how to do this. If they always buy what's cheaper we will inevitably think that this is the right way to do things. So, we will usually go with the cheaper option.

What do you guys think about this? Do you opt for quality over quantity? Do you give in to the temptation of buying what's cheap?

I think this is a matter of value. You think you are getting a good value when you buy a pair of $20 tennis shoes instead of the $120 running shoes you need, but in all actuality, where the running shoes would have lasted you a few years, the $20 pair end up getting worn out in a few months and you have to buy another pair...which you opt to buy for $20 again just because you're thinking you already wasted $20 and you don't want to spend a lot of money on a pair of shoes...and then before you know it you end up spending more because you wanted "value" than you would have if you had just bought the quality product in the first place. I think the age old issue is that corporations make cheaper product because they charge less for it, from shoes, to housewares, to toys, even to food. Have you ever noticed that the cheaper the food is the less healthy it is for you? That's because value is more important to people than quality. Personally, if I am at a point where I am doing well, I'm going to go for quality before I go for value. The crazy thing about it to me is that some companies do provide quality products at affordable prices. But it's hard to find these products, and most people don't want to go through the effort of finding them. So ultimately I think it's just a matter of personal preference. If one person is fine with spending a lot of money buying cheap products over and over instead of buying just one quality product, I guess that's their prerogative, but me...I like quality and less hassle.

sofieb529
02-22-2014, 10:10 AM
'Price' is always the ultimate factor. I've been at food festivals making the exact same sandwiches as other vendors,but using better breads and fresher ingredients but because he has the cheaper price he in turn has the longer line !

autograph
02-22-2014, 11:47 AM
It really depends on the item itself. Just because something is very expensive, it does not mean the product is necessarily high quality. As a consumer myself, I usually always do some research on the stuffs I want to purchase. For example, a pair of shoes are sold in a varying price range. Of course I could always get the cheapest one off the shelf and have it tear off in the next 2 months because it is not durable; or I could buy a slightly expensive ones and keep wearing it for few years before it tore apart. There are just a few things that I would spend extra money for: shoes, mattress, and safety equipments.

Mojibobo
02-22-2014, 12:29 PM
It really depends on what it is I am buying. For example with Sound Editing Software, I have found extremely cheap and actually one free Porgram that does exactly the same and in some ways are better than Software that costs hundreds, if not THOUSANDS..

crucider
02-22-2014, 01:05 PM
Most people think that high priced items = higher quality items. Which isn't ALWAYS necessarily true, but it really depends on the company. And if you're not sure then you better get to researching or you could get ripped off for something that isn't even worth the price.

M.K
02-22-2014, 11:34 PM
You really need to do proper research before buying or subscribing to a product. The sad truth is that many salesmen set their price rather arbitrarily because they prey on the uninformed. Product testimonials are a good way to get a grasp of quality. Don't pay for something before knowing what you're getting!

Ryand88
02-24-2014, 12:19 PM
High price does not always equal high quality but at the end of the day research is everything ; salesmen will price their products how they think people will pay and more often than not that is more than it's worth, people want things cheap so they buy cheap and then are surprised when it breaks, people really need to be more informed about how to buy products but they're not so it will continue as it is.

jubvman
02-25-2014, 08:10 AM
I always opt for quality vs lower priced items. For example, there is this wallet I'm planning on getting soon, it will be around $60 including shipping. But comes with a 100 year warranty!! So that works out at $0.6 per year. Absolute steal :D

Gmac9100
02-25-2014, 08:20 AM
I go for quality every time. I have been burnt many times when buying cheaply priced items. I have learned my lesson. You get what you pay for. Don't waste your money on something that is going to break in a week, and be forced to buy another one. Just spend a decent amount of money up front, and purchase yourself a quality product that is going to last.

mikelouis
02-25-2014, 09:30 AM
Quality will always win over quantity as someone will want a product that is worth spending money on. I would not also spend little money on a product that will spoil in a few days or months when it is supposed to last longer.

angelicagapit
02-28-2014, 02:31 AM
A major factor that I take into consideration whether I decide to buy either quality or quantity is the situation. This meaning, who is my market? If it's for a very important person to me, then it would be quality. If the product is for a bunch of kids, it would definitely be quantity since they don't care so much about quality as much as adults do.

It depends on who you're buying the product for, in my opinion.

foduu1
03-06-2014, 03:05 AM
Sometimes, client invest in beyond practicality for this reason, getting using a LOWER PRICED objects. You will discover high quality products offered using a better total like house pieces of furniture, kitchen area utensils, especially in case you are getting these individuals using a high-end shops. But, at this time there you'll find products with the identical intent offered within IKEA (just regarding example). I do believe, in case you are about the high end with the community having so much funds to shell out, then go for high quality. Normally, cheaper objects are simply just sufficient in order to function the identical intent.

Taru
03-07-2014, 09:50 AM
Like most things, I think the right way to go about it is to have a good mix of both. It's not practical to aim for absolute quality even if you can afford it. There are just some items that we need in life that doesn't necessitate that much quality and paying extra for such a thing would just be frivolous. Tissue paper, for example, is something I don't really feel the need to splurge on because I doubt I'd really get that much of a better experience with a more expensive brand that would justify the price for me. Things like these I don't really mind skimping on, and the savings I get from these I just use on other things that I do care for the quality of.

wander_n_wonder
03-08-2014, 12:41 AM
I think this really depends on the type of market you are trying to sell to. If you know for a fact that you are selling to middle class market, then price would definitely be a huge defining factor. This way, you need to balance price and quality. However, if you are dealing with an upscale market, quality is more important because your customers will be able to pay more just to get better quality products.

I would also say it depends on your product. There are products which are basically useless if the quality is low.

Ted255
04-03-2014, 04:15 AM
I actually buy cheap items for the sakes of not being too stressed when it breaks or gets destroyed. The problem nowadays is that everything is made in China. Believe it or not, these items are the worst especially in terms of quality, no offense to the Chinese, but these items are just not worth it. If I'm planning to sell items for customers I would opt for both Quality and Price. What do I mean by this? I would have to sell the best and the highest quality of product that will compete against every other product and give the best price for it. This becomes a win-win situation and the secret to competitive pricing.

I have plenty of items made in China that have lasted years from their purchase so not all Chinese made products are bad. Just because 95%+ products are made in this country and over half of them are badly/cheaply made and break soon does not mean that there aren't many Chinese products that are actually very worthwhile. I guess it mostly depends on the company that is actually selling these products to us all. If they receive faulty products from China they can always send it back or not work with that supplier anymore. If more sellers did this then Chinese made items would be made much better and with an eye towards quality. Also, if the proper authorities would do their job as they should, many of the faulty items wouldn't even get to the market. And it would also be good competition wise if there were other viable alternatives to China. It's probably very difficult to compete with them in making certain items but I am sure that for particular products, other countries can beat China's quality and price for producing them.

aaabright
09-26-2015, 04:09 AM
I believe in quality!!!

Richardhstapp
10-02-2015, 10:42 AM
I guess it depends on the situation for me. A lot of products are cheaper and still have the same quality as a more expensive alternative, they are just not name brand. With this, I like to order some of the cheaper alternatives and do a trial run. Offer it to your customers and tell them that you are considering using a new supplier because the product is easier to get. If they complain that the newer, cheaper product is worse then stick with the more expensive. Overall though, I prefer to sell quality over quantity. Yes people are going to look for the cheapest item, but when it breaks or does not meet their needs like that of a quality product, they go to complain to you and you must deal with an upset customer and possibly a hurt business.

I totally Agree with you!

Davidrguernsey
10-06-2015, 05:13 AM
The one and only Quality matter.

Anthonyesullivan
10-06-2015, 06:17 AM
I suppose this will depend to the condition for me. Lots of items are cheaper but still possess the same quality like a more costly option, they're simply not brand name. With this particular, I love to-order a few of the cheaper options and perform a test work.

Frankietleath
11-04-2015, 11:35 AM
Just Quality matter.

carolgcampbell
11-04-2015, 11:43 AM
I also believe in quality.

IndioBailBonds
11-05-2015, 10:22 AM
Quality is a best thing which you can give to your clients.Don't ever compromise on it.

Malik Suleman
11-27-2015, 03:09 PM
It really is an eternal battle to find the right compromise between quality and quantity. Sometimes it's because the consumer doesn't consider the value of the product to be enough to pay for the high quality's price, other times it's because the customer needs (or just wants) a product sooner rather than later when it comes to saving for a product.
A good way to look at it is that value isn't just the quality and price, but also the convenience it brings to the consumer. Most people would rather get a cheap hamburger from McDonald's for a dollar if McDonald's is close by rather than traveling 10 more miles to get to a more expensive but better quality place. Likewise, some people would rather go to the quality but more expensive place if it's closer than the cheap one, and others are motivated more by cost than distance convenience, etc.

completely agree with you sir and its great answer

donswift90
04-04-2016, 08:26 AM
More expensive does not always mean better.

Hellosolifornia
07-04-2016, 08:11 AM
If you always got what you paid for, then “cheap premium” would be an oxymoron. But more and more, consumers are learning that inexpensive doesn’t have to equate to poor quality.

Exhibit A—for alcohol—is Wodka, a premium vodka from Poland that costs $10 or $12 a bottle. If you’re a regular buyer of the more standard “premium” vodkas like Grey Goose, you know that this Polish brand costs less than half the price of typical status boozes.

BusinessWeek is the latest to look into the premium, or “super-premium,” vodka market, which features Wodka, Sobieski, Svedka, and dozens of other vodkas selling for under $20 a bottle. James Dale, Wodka’s co-owner, explained to BW one of the recession-related reasons why his hooch is so hot:

Read More @http://business.time.com/2011/05/02/high-quality-low-price-the-consumer-quest-for-cheap-premium-brands/

This is great article I have ever read about quality and lower priced items.

GlenGBillings
03-30-2018, 10:21 AM
I generally attempt to make sense of what the quality to cash proportion is. For instance, I'm searching for a bluetooth speaker at the present time. I have discovered a few models valued above $200 (not one for a telephone, a vast speaker with conventional bass reaction). I likewise as of late discovere that even appears to have a superior reaction however is from a brand that is known to create modest things.

Joshua21
01-09-2020, 08:54 AM
That's true about vodka though - I've been buying Khor for some time since I learned it's not that expensive but really quality - it's one the best selling vodkas in the world (https://khor.com/), actually. I recommend trying it out - I think you would agree the brand is decent.