From: Dr Robert Doebler@pittsburgh high intensity focused ultrasound specialist
I always go for good quality. I believe if something is good then even if you pay a high price for it then no harm. However people are different with different ideas and views so someone should just go for what they feel is best. If it does not work like they expected then too bad for them.
I think that most of the times we pay the brand and not the actual product. So for some quality it's not an issue, but brand is. y=You might want to debate this in a future post :)
This actually fits with what they teach in business schools. Compete on price or differentiate yourself in some way (such as quality), and don't try to do both because you will be out-competed.
now the world's population and a growing number of competitors are very fast cause people produce goods in large quantities and cheaply, so that make the quality to be No. 2.
What you said makes sense. A business that understands its target market is in a better position to offer products that fit them (consumers) best.
From: Jimmy Mindmap maken
I agree, its all about quality, and its true people often link the price of the product to the quality of the product.
Its very stupid, i split tested one of my websites, on the one salespage i sold my product for 47 euro and on the other salespage i sold my product for 67 euro...
I compared both sites and from 500 visitors i made 20 sales (47 euro), on the salespage where i sold the product for 67 euro i made 26 sales... really stupid but it really works!!!
From: Jack Wilson
Its a awesome post about brands and pricing. I can also pay anything if it is worth for it. Its a really a appreciative post.
If you're going to pay for something useful, you might as well make sure it's of high quality. Just don't spend more than you can afford.
I agree, we often want things that are of lower cost. But when it comes to quality, more often, those that have the higher quality have higher price. And when we see low price product and claims high quality, we sometimes doubt about buying it. Quality is really proportional to cost.
From: Chris Application
I drive a Mercedes, it cost 3 times more than the average car, but it last 3 times as long, it has a level of comfort that you have to drive to experience. I always try to go for quality in the end it pays off...
There are several aspects of a product that can be presented. I believe there are some products which has already made their space by the extra ordinary brand value
Nowdays, most of all people want the best products and the cheapest in one way. And by the way, it's more easier to advertise when you promise more benefits than competitors and hence it's harder to build advertising company standing on the one reason like quality or price or anything else.
I would tend to agree with you that many of us don't prefer quality instead we care for price. My question is how can you make someone trust on products displayed over a website?? The best thing is consumer reviews in my opinion but they could be tricky as well. Webmasters or marketers can pay someone to write reviews for the products they have never used. The biggest disadvantage of buying online is that one can't touch the thing he/she is going to buy. So it is a risky part to some extent that one has to trust a website blindly unless one is buying from Amazon or Ebay.
From: Rizza Gamutan
It is important to emphasise the quality of a website so that more online users will be interested in it.
For me it's all about being able to see the value of the quality product.
If I can't see it I'm unlikely to be persuaded, especially when budgets are squashed.
This is even more acute for online stuff, which I expect to be cheap if not free. I'm trying to educate myself away from this thinking but it remains!
From: Progressive Multifocal Leukoencephalopathy Lawsuit
Sometimes unfortunately the decision is out of our hands, simply because we can't find a higher quality alternative. Product manufacturers in many cases don't build things to last for decades, simply because it's a better business strategy to sell a poor quality product 3 times in ten years, then to sell the same thing once.
BUT, and this is a big but, when you are trying to sell a service, or intellectual property the opposite is true.
From: Nikki Elizabeth
"My point is that when you're creating your products, web site, sales pages, marketing material, etc. you need to understand which segment you're selling to. "
This is great advice! It's extremely relevant to defining your target audience, beyond age, location, etc.
From: Vintage Invitations
I just stumbled aross your website and I found this article very informative. With so many cheap products on the market it is indeed sometimes very dificult to carve out your own niche.
"For someone only interested in the best price, you have to only prove that your product or service is good enough and that your price is the best. For the person interested in quality, you have to prove you have extraordinary quality, better then the other guy's product or service."
I think you are right on point with these two sentences, Fred. You have to basically tell the consumer one or the other, as in today's economy there is no such thing as the highest quality and lowest price. Simply put, you pay for quality. When needing quantity, most people will choose the lowest price because they know they can save just that much more money in the long run. This is a great post Fred as I will be sharing this with a few people.
From: abdul razzak ghani
I'm really glad I have found this information. Nowadays bloggers publish just about gossips and web and this is really frustrating. A good blog with exciting content, that is what I need. Thank you for keeping this site, I will be visiting it. Do you do newsletters? Can't find it.
For someone only enthusiastic about the best cost, you have to only confirm that your products or services is good enough and that your cost is the best. For the person enthusiastic about high quality, you have to confirm you have extraordinary high quality, better then the other guy's products or services.
"There are a lot of quality oriented consumers that will bypass a low priced product even if it was the best product simply because the price was too low."
Agree. Higher price means a promise of a product or service quality. While some are looking for cheapest products/services they can get, others never buy products that have low price.
I would have to agree with Melita to an extent. I believe some high prices can turn off consumers, there needs to be a happy medium for consumers to buy at a high price, being able to have comparison price chart with other companies for consumer to see is very helpful in my option. What you think?
Nice Article. I believe that people think that lower the cost of a product means lower is its quality but it is not always right we should not compare the quality of a product with its price. A high quality or branded product may become costly as compare to a local product.
From: Madhukeshwar Anakal
The demand of a product depends on the competition directly.If the demand is more with less competition then you can sell the product at higher prices and vice versa;By the way thanks for this short descriptive article.
What about the saying "you get what you pay for". There are and are not people who can afford fine quality service or product. Also it depends where you looking for your prospective clients. You gain more success by selling Porsche in Beverly Hills than in Guatemala. :)
From: Wilford James
The quality vs. lowest price is hard one to analyze. Though I do agree with you that we should cater to one group or the other, there's an in between group who believes that it's possible to acquire quality at a low price and most business cater to that group. On the other hand, I think there is huge segment of our society who would not recognize quality if it bites them on the finger. And then there are those who equates quality with the package of the content, no the content of the package, kind of like judging a book by its cover. Ultimately,the best thing to do when it come to cater for a specific group is to stick with the one who believe in both quality and low price, as it quite possible to offer both quality and low price.
It fits with what they teach in business schools. Compete on price or differentiate yourself in some way like quality etc, and don't try to do both because you will be out-competed then.
Thank your for this post.
There are very few companies, in both products and service industries, that actually make quality a top priority and would not cut R&D or production costs to increase their bottom line.
Anita Sig Happiness Therapist