It's the age old dilemma. If something is cheap, does this automatically mean it is poor quality? Conversely, are all expensive things better quality and therefore more cost effective in the long run?
Some products offer value for money even though they may not be the cheapest on the market. What will the discerning consumer look for in making wise use of their budget? And how can the savvy business keep the balance between budget, quality and time in accomodating the needs of their customers?
What does cheap mean?
We all know what cheap means in describing something of little cost or low price. But in terms of the value of commodities one could refer to something of little account, poorly put together or of shoddy workmanship as 'cheap.' It does not follow, however, that something of little cost will also be made badly or that something poorly manufactured will cost little. The word cheap does hold a slightly negative meaning when connected with products and services which is why this has been replaced by the more acceptable term of 'budget'. With less derogatory connotations, 'budget' refers to something of lower cost that is reasonable, affordable, cost-effective or modest.
Businesses who are in tune with their customers needs will always be focused on providing the right product, at the right price and at the right time, which calls for continuous tweaks and adjustments in line with demand and market trends. This does not necessarily mean that sales are wholly customer led as they are often easily persuaded to change their perception by well thought out marketing.
What do customers think?
Customers will act on what their mind is focused on. This is why certain advertisements and information passed on by word of mouth have an impact on their buying choices. Additionally, what is dominant in their lives will also influence what they buy and at what price. For example, if they are struggling with finances then when it comes to buying things, they will not view higher priced items as good value, as they will be seeking things that are lower priced, determined by their budget.
Purchasers will also rely on their own perceptions of the value of things developed from personal experience or learned from others. For instance, they will have come to learn that buying cheap items is false economy since they will need to be replaced at a later date, therefore incurring further expense. So their tendency may be to always buy the middle range items to avoid that trap. Or they may take on board the bad experience that a friend had when they purchased a certain product. The value an individual places on things will determine how much they are willing to pay for it. This means that for some commodities they will be happy to pay the highest price but for others very little.
Feedback from customers is therefore vital for businesses in ascertaining how valued their products are. They need to take note of not only why certain products are selling well, but also why others are not so popular and what the customers say, good or bad, is key to this. Listening to their comments will enable them to adjust the look or function of a product to become a more attractive selling proposition.
What adds value to a product?
The value of a product, as perceived by the customer, is not just about the price or the quality, but a whole range of factors involved in the entire purchasing process. The look of an item may trigger an interest initially, or the need for something may motivate a person to look for the appropriate purchase. But then the cost of it will come into play dependent upon the amount of finances available and the anticipated use of the product, whether it's expected to last for the short or long-term, will play a part in deciding to buy or not. Other factors involved may be the available choice of the item, whether it can be taken straight away and how easily it can be transported home.
When a customer takes into consideration all of these determiners, whether the cost is high or low may be irrelevant and even if it is viewed as the best quality on the market, this alone will not secure the sale. In todays commercial world of changing standards, needs and impulse buying, businesses are continually under pressure to come up with an all round appealing product. But the one thing they do have on their side is the ability and facility to persuade the purchase decisions of their customers.
What is a budget item?
A business can develop a budget item by successfully balancing 'the quality, cost and time trade-off.'
In an ideal world, the highest quality product would need to be developed costing as little as possible and taking the lowest amount of time. But of course in our imperfect world the triangle will never be equilateral! So it's a trade off or adjustment process of trying to find the best combination whilst still offering something of use to the customer.
As a case in point, Eazy Print has successfully developed a range of Budget roller banners that are cost effective to produce, made of high quality materials and can take as little as 24 hours to design, print and deliver to the customer's door. How can they achieve this?
Eazy Print Budget Roller Banners
Eazy Print produces one of the widest ranges of roller banners online along with many other printed products. Their commitment to quality translates into all products being produced to the highest standards possible and a guarantee that customer satisfaction is reached, even if it means extra work to achieve this.
Commercial analysts state that companies that generally put quality first are proud to let everyone know and they will have a 'fan community' to verify this. Each Eazy Print product adheres to what they call their Quality Commitment and explains how their standards are delivered and maintained. In response to this, the customer reviews speak for themselves in providing testimony to their consistently high quality products.
Roller banner displays are made up of several parts all of which need to reach certain standards to ensure a quality product:
- The roller mechanism needs to be well made in order to sustain continued use in unravelling and recoiling the graphic sheet.
- The stand should be solid and stable so as to keep the whole display upright.
- The graphics need to be printed onto good quality vinyl or PET material that prevents light shining through but is unlikely to rip with continued use
- The images should be printed in full colour and in high definition
In view of their focus on quality, Eazy Print offers a choice of three budget roller banners to suit the varying needs and finances of customers. These are not the 'cheap' roll up displays that you may find online, but they are reasonably priced and affordable. They are all made from the same banner material that is also used for the more expensive ranges and each model is given an honest description outlining its best use. This way the customer knows exactly what they are getting and are more likely to be satisfied with their purchase.
The SuperSaver Roller Banner - is the least durable and lowest cost roll up banner produced by Eazy Print. It is most suitable for a one off event or short term use as an advertising display.
The Economy Roller Banner - is good for short term or light use and is generally recommended for first time users of roll up displays. If a customer is governed by the price in choosing the best pull up banner for their needs then this stand is good value.
The Budget Roller Banner - is the most popular model as it is not only affordable and good quality, but it is long lasting, stable and offers a choice of different textured material to achieve the best image results.
This attention to detail also extends to the design team who are primed to help produce quality graphics for their customers by offering advice on existing artwork or creating an inspiring design to complete a high quality stand.
Sometimes it makes sense to spend more today so you can save more tomorrow!