What's Better - Product Price or Quality?

What's Better - Product Price or Quality?

In staving off the competition, what's more important?

By Marcia Smith

Pricing is important, but in the long-term, it's the quality that ensures that customers stay loyal to your brand.

It’s important to set your prices competitively. A special offer or deal can be great for attracting attention; however, most customers aren’t going to carry out a price comparison every time they shop. Instead, they’re looking for a reliable, trustworthy brand and a convenient, enjoyable shopping experience.

There’s little point in enticing customers with a great price if they return to your competitor the following week. That’s why quality is more important. If you establish the confidence of customers in your product, you’ll win their loyalty.