Monthly Archives: September 2014

Price is Only One Aspect

The easiest comparison when making purchases of products and services is price. It’s black and white, but it’s also very misleading. The key is to focus on the value received for the price paid. Here are some examples:

Insurance: There are a lot of commercials and ads out there promoting lower auto insurance rates. It is true that you may be able to get a lower rate by switching to another insurance company, but you may end up reducing your coverage, which is the reason for the savings. This is why it is a good idea to work with an insurance broker so that they can help to make sure that you are properly covered with the right amount of insurance.

Products: If you are comparing the same exact product between two retailers, the comparison is easier. Although, you may also want to consider other factors, such as customer service, return policies, and shipping charges for online retailers. If the products are not exactly the same, then the old rule, “You Get What You Pay For,” is generally true.

Services: Services are the most difficult to compare because you really don’t know the outcome until the service is completed. Again, “You Get What You Pay For” is extremely valid. You need to make sure that you know what you are receiving for the price paid. This is why it is very important to ask for a recommendation when selecting a service provider, especially a professional service provider as their services are intangible and not easily compared to others.