Berto Discovers What Shocks Buyers Most About Suppliers
The tension between quality and price has been with buyers and suppliers ever since trade existed. Buyers always have demanded the highest quality for the lowest possible price. The final result for the buyer is what he or she considers to be “value.”
If it was a good value proposition, the buyer considers they got very good quality of a very reasonable price. Nobody values high price and low quality.
Here’s a list of the top 6 pricing strategy quotes:
- “Price is what you pay. Value is what you get.” – Warren Buffett.
- “For me, it’s not about price. It’s about necessity, quality, and usefulness. Like, I have my Wet N Wild 666 lip liner. It’s 99 cents and always has been. I started using it when I was in high school, and it’s great.” – Fergie.
- “The moment you make a mistake in pricing, you’re eating into your reputation or your profits.” – Katharine Paine.
- With the price of life these days, you’ve got to get everything for free you can. – Carl Rogers.
- “Pricing is actually pretty simple…Customers will not pay literally a penny more than the true value of the product.” – Ron Johnson.
- “Pricing is the exchange rate you put on all the tangible and intangible aspects of your business. Value for cash.” – Patrick Campbell.
Many RT Media ImagingWorld writers have had a different perspective on this age-old topic. Here is a list of their articles as they also relate, along with Berto ‘last laugh’, at the imaging supplies industry’s expense:
- Getting the Price + Quality Formula Right: Steve Weedon shares the story of Gerald Ratner who lost $1B in 10 seconds and asks if cartridge retailers are getting the Price, Quality and Value equation right in their businesses;
- Staff Confidence is the Key to Business Success: Stuart Lacey has found many suppliers employ sales staff who speak polite English but have no idea about the company or its products and assume you want a cheaper price than what you paid last time. Doom.
- Short Term Gain for Long Term Pain: James Douglas says, “Cut the bull. It’s just us talking here. Be honest about your business and the way you make decisions. Are you just ‘talking the talk’ or are you ‘walking the walk’ when it comes to quality products?”
- Giving the Shirt Off Your Back for Quality Price and Ethics: Darren Turner gives the shirt off his back to explain how value is often confused and conflated with price, when, in fact, it refers to the worth of usefulness that something has.
Cartoon #94 Berto Discovers What Shocks Buyers Most About Suppliers
Last month’s Berto cartoon: Berto Looks for the Perfect Low-cost High-quality Cartridge