Let’s start with the hugest, biggest, most important misconception…that the higher the price, the higher the quality. It’s simply not true. Be aware that a “good” brand reputation doesn’t mean good quality. This includes many designer brands.
So why the high price? With many brands we are paying for the brand name. We are also paying for a large national or multi-national organization, its large stores, slick catalogs, warehouse distribution, management overhead and salary. We may be paying for the ease of purchase and efficient operations. The costs associated with running a large company with the pressure to increase profits, results in higher prices and lower quality than what we received just a few decades ago.
If you feel a price is too high, ask yourself if any of these principles come into play, and then make your purchase decision accordingly. Do you remember the old Sym’s tagline – “An educated customer is our best customer”? The more we understand exactly what we are getting for our hard-earned money, the more we can demand good quality at fair prices.