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Catracho Catracho
wrote...
Posts: 529
Rep: 2 0
5 years ago
Price is the controlling factor in any free economic marketplace. You would think that everyone is looking for the lowest price available on every item produced and sold. This, however, is not the case. think about how important price is to you personally and discuss whether you are always looking for the lowest price on everything or if you have some other more important factor for one or more items that you purchase.
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Educator
5 years ago
Price is an important factor for me, but a low price also deters me from trusting certain products. One such example I can think of are batteries. There are a multitude of companies that offer batteries, but the company I trust the most is Duracell. You may argue that all batteries are built the same, but I disagree, as I would rather pay a premium price for the same product than a reduce price of a cheaper brand. I feel that Duracell creates their product with more care, higher quality ingredients, and ultimately they last longer. In addition, Duracell spends a lot of money on marketing their product, which suggests one of two things in my view, that the companies first priority are batteries (this also tells that any profits goes to research and development to make their product better), and that they're in demand -- otherwise the company wouldn't be able to afford advertising their product. Therefore, quality of product is directly proportional to price, and a better quality product is worth a premium cost in the free market.
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