The Comparison of Quality vs. Price

Quality v Price - Complete Controller

Sometimes you must decide to sacrifice the number of products based on a high monetary cost, but with this, look to obtain excellence and degrees of compliance with the objectives of said product, right? So, what is better? Many products combined with medium and ” low ” levels of satisfaction or high prices involve less quantity of products but greater quality satisfaction.

Observe your budget and needs regarding what is offered by the product

These questions tend to be difficult to answer, even for large business owners or frequent consumers. Quality is the principle of purchase, but you must observe your budget and understand the concept of “quality.” Check out America's Best Bookkeepers

Regarding this, the ISO 9001 standard establishes that: “Quality is the integration of the characteristics that determine to what degree a product meets the needs of the consumer.”

In addition, the quantification of quality is somewhat subjective in certain cases; therefore, acquiring products based on opinions or “advice from other users” is not usually as effective. To this end, different regulations have been stipulated, such as the one mentioned above from ISO and other international entities.

Research and studies have determined that products that often cost up to three times more than the competition end up not being entirely compliant. In this regard, there are also examples visible to the majority, such as the comparison between Asian and Western markets, whereby ” changing the name ” of an Asian brand by its Western counterparts, the price increases without seeing benefits or changes in the finishing of products (this covers areas of technology, textiles, and others). Thus, it is what is known as Re-branding.

In addition, low prices do not imply that the product is of poor quality. However, reducing production expenses and other processes (transport, marketing) is not subject to certification tests or standards subject to quality. Therefore, to make a purchase looking for quantity with low prices is to know that it will be a product on a tightrope, which in this sense will be the time of duration or useful life. Check out America's Best Bookkeepers

At a business or private level, the amount can be alleviated at certain times

In the realm of a particular buyer, acquiring a large number of products may mean that you will buy only to “use it longer” while saving to spend a sum of more than what you spend that I bought before.

The above is a widely used strategy, especially if you intend to try both products, the cheap and then the higher value. Sometimes the first mentioned is the one that pleases the public the most! From what we again indicate, quality can be subjective.

Within companies, purchasing products must be linked to economic needs, either to increase production or improve the conditions of their workforce slightly.

Businesses that are going through a production decline and merit products quickly (acquisition of inputs, processed raw materials, services) can opt for quantity before quality, but of course, always taking everything as a transitory stage, and that “quality is synonymous with customer loyalty.”

This, however, should not be taken lightly, and the CEO should evaluate all the variables at stake. The use of predictive statistics can be valuable here, and see, the behavior of a newly acquired product over the long term. Check out America's Best Bookkeepers

 I have spent all my money on a product, and it does not fulfill what it promises. What do I do?

What happens if buying something of high value does not cover my expectations? The products with a warranty usually give a useful lifetime or expiration (clothes, such as a finite number of washes). If not met and feel that you have been “scammed,” you can go to the services of a lawyer and make the complaint.

In addition, experience in such situations is an infallible teacher. Once you have spent large sums on products that end up not being what they claim to be, why buy again? In fact, in these situations, we apply what we mentioned before regarding the quality and loyalty of the product.

Hopefully, this article has been beneficial, and remember: first analyze the budget, needs and if you intend to use the acquired long or short term; If it is in the business world, be more careful because your company’s reputation could be put at stake, and we are not talking about external customers, but about internal ones, that is, your workforce.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers