Sunday, March 13, 2011

The price of quality

An interesting thing to take into consideration...the relationship between price and quality. It's an issue that a lot of businesses have had to face in the wake of the Global Financial Crisis, and an issue that's basically been around since currencies were invented. Here at the studio, we've got a point to prove. But before we get into that, it's necessary to look at the general concensus.

Most consumers perceive that a relatively high price is a sign of good quality. Sometimes this is true, but sometimes it isn't. And it has a lot to do with expectations. Take this for doesn't walk into Louis Vuitton on Park Avenue expecting to spend ten dollars. But then, change the setting to one of a small business, and the same person expects to recieve their product for what we call 'peanuts'. Expectations, you see? But consider this...what if the small business actually provides an exceptional service, something you wouldn't dream of receiving anywhere else, what if the product you're left with is one entirely on par with what you would receive at a 'name brand' store, and still, the customer is dubious. A paradox.

When discussing the issue, I came across the idea that pricing in general is a black art that is based more on what people are prepared to pay than on the actual cost of what is being sold. If you took this idea and used it, you'd be getting whatever you purchased for cheap...but then everybody would be in ruins. The system, no matter how much some resent it, just doesn't work like that. Whatever happened to the negotiation of a reasonable price based on labour, materials and a profit geared towards the betterment of the whole enterprise? And then, what about the product you'll receive in the end...the product you'd hoped and expected? You'd get it, that's what. And you'd be satisfied.

People seem to forget that cheap lasts forever. It will always be on your mind. What we're all about promoting here at Romantiques is the idea that your piece should work for you, not against you. What are you looking for, in the end? Quality. The question is, are you willing to receive it?

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