Quote:
Originally Posted by tubemonkey
If I make and sell 2000 widgets at $10 above the price of the competition, my business will thrive?
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Some day even you will discover that price isn't everything
. And in business you will also find out that someone will always be cheaper than you. Trying to be the cheapest is not a way to make money unless you make Chinese junk quality products. And as I know first hand, those that do sell super-cheap lousy quality items are going out of business in droves these days. They just can't handle the 30% wage increases each year and labor shortages. And they neither have the know-how nor the resources to upgrade. Competing on price is a dangerous game. With low margins one misstep may mean you are gone.
And a lot of people think differently than you do. I choose what I want and then I try to get the best price for it. I may not buy it if it is very expensive and I feel it isn't worth it. But I would never settle for some substitute item that I think is not as good or nice just because it is cheaper. Even if the substitute is a lot cheaper and I think it might be good enough.