It is considered by many that price of a product or service is the most crucial factor in purchasing. In my view, it is important for customers even though I believe that not only price but also quality is significant for customers who have enough money.
To begin with, it is true that low price of products or services has benefits for buying. According to economic theory, if price of products fall, demand’s of that product will be increasing. For this reason, most customers tend to purchase cheaper products to get maximum satisfaction with limited budget. As an illustration, Trevi which is sparkling water brand of Republic of Korea is the most popular product than high quality of brand of France, although that of Korea has low quality. This is because, that of France is twice as expensive as the Korean brand. As a result, this case demonstrates that customers consider the price when they purchase services or products.
On the other hand, sometimes, the expensive price can be no matters in purchasing. Expensive brands tend to ensure better experience namely quality, providing prestige which contributes to a personal satisfaction. For instance, even though BMW which is car brand of Germany are purchased with a high cost, it is one of the most preferred car brands owing to its speed, safety, design and history,
Therefore, individuals who have sufficient budget will purchase high quality products and services, though it is more expensive than others.
In conclusion, a price is crucial factor in buying decisions since a low price lead growth of demand whereas people can buy expensive products which demonstrate high quality and performance for personal satisfaction.