Nowadays, people consider price as a primary aspect for buying and purchasing a product or a service. I believe that there are other factors which are as important as price such as quality and effectiveness should be taken into consideration. This essay shall justify my standpoints on the same.
Many people consider price as a key factor before buying any product because they have budget issue. hence, they always in a chance for buying goods in cheaper price but they forgot to consider quality of the product. To explain it more, there are wide variety of smartphones available in the market starts from as low as 1000 and goes up to 150000. It is completely on a consumers whether they want to go for higher end model or lower end models. Lower end models often compromise on quality and after sales services while higher end models has higher price as well as more features. It completely depend on individuals need and budget for purchasing one.
Similarly, services follow the same rules as products. Costly services which includes medical claims, life or car insurances have the wide price range. It depends whether an individual want to spend more money on it or not. For example, higher car insurance premium offers more services such as accident protection and more sum assured value while lower premium lack of these services.
To conclude, it is completely depends on people whether they want cheaper product or quality product.