Marketing is much about psychology than anything else. You want to put the consumer in a frame of mind where your product is something they need or desire.
Price is usually a secondary concern to some people, but in today’s economic climate price is reigning as the king consideration when buying.
Does it make sense to buy the cheapest or most expensive of anything? As with most things in life it depends, but in 90% of the situations (yes, I made that up), you can get away with the cheapest of something. Remember, getting you to buy something is a marketer’s goal and price plays into that.
When you do go with the cheapest item make sure it meets all your needs, that it is something you need and that durability isn’t an issue. For instance, the cheapest milk at the grocery is going to take less consideration than the cheapest set of tires.
Anyone who tells you to always stay away from the cheapest of everything isn’t doing you a favor.
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