Price vs. Performance: What do you choose?

[kern417]

i'll have to read the whole thread but just my initial thoughts:

i didn't become obsessed with getting deals until around the time i went to college and found out i could buy unlocked phones cheap and use them on any carrier. i started buying used stuff and cheaper and cheaper options until i bought a chinese headunit with my first paycheck one summer from an internship. i installed it and 2 days later it died. when i tried to contact the ebay seller they weren't able to email in english, so on the phone i talked to somebody and they emailed me directions on how to solder the connections. what? and little did i know there was no warranty so i couldn't even return it, even though it was new. so that's when i finally understood the whole value thing.

if you're just buying cheap to buy cheap then you're definitely in the wrong place and driving the wrong car. now i can see how some people will buy a part that's half the price for 75% of the performance, but it all depends on what you're going for. my philosophy is items with moving mechanical parts i only buy new (turbos, clutch, lsd, etc.). Other static engine performance parts i'll buy used but has to be a reputable brand (intake, mounts, catch can, etc.). Other parts i either make sure it has high enough reliability to warrant the cheap price, or it doesn't need to be "upgraded" and I remain stock. for example, i paid $500 for solo-werks coils that i know aren't top of the line, but i am willing to sit on cheap suspension that i know won't fail until i can upgrade to new fully adjustable ones. another example is i have chinese tail lights, but at the price point even if it failed i could buy it 3 times over and still have paid less than oem. some people saw failures but most didn't, and luckily i was in that pack.

it's all about priorities.

 

[grambles423]

it was? i thought it was just a refresh of some minor things? its gotten fairly negative reviews for everything I've seen on it as well.

That's strange because everything I've seen on it has been very positive

 

[McQueen77]

they taste less expensive too.. ugh.

i agree. ever buy generic peanut butter? if eating that shit and buying 'fruity o's' instead of fruit loops doesn't make you want to walk out into oncoming traffic, i don't know what does

 

[C4L]

That's strange because everything I've seen on it has been very positive

I have read myself that the improvements have been well received (positive) but the car as a whole when compared to its competitors still comes up short.

 

[2013R]

i agree. ever buy generic peanut butter? if eating that shit and buying 'fruity o's' instead of fruit loops doesn't make you want to walk out into oncoming traffic, i don't know what does

i bought generic Lucky Charms last week. They were horrible. Tasted cheap.

 

[D Griff]

Well, since I'm in the minority with my vote (cheapo here), I'll explain simply why I said it.

My idea of value is the cheapest product that will perform the task I purchased it to perform.

Example: Bananas from Aldi that are $0.35/pound taste just as good, fill me up just as well and offer the same nutrients as organic $2.50/pound bananas at Earth Fare. I'm getting the Aldi bananas.

Cars are my favorite/main hobby though, so my minimal performance requirements are higher. I'm not getting cheap tires because really good grip is my standard for tires.

You're all welcome that I spared you a novel.

 

[C4L]

Well, since I'm in the minority with my vote (cheapo here), I'll explain simply why I said it.

My idea of value is the cheapest product that will perform the task I purchased it to perform.

Example: Bananas from Aldi that are $0.35/pound taste just as good, fill me up just as well and offer the same nutrients as organic $2.50/pound bananas at Earth Fare. I'm getting the Aldi bananas.

Cars are my favorite/main hobby though, so my minimal performance requirements are higher. I'm not getting cheap tires because really good grip is my standard for tires.

You're all welcome that I spared you a novel.

But are the Aldi bananas equal? How do you know?

When you buy the cheapest of something, you get the cheapest of something. I think that is in fact the worst value, not the best value. Value is quite literally how much/how good you get for your money. The maximization of both utility and quality, not simply the minimization of cost.

In my experience, buying the cheapest of something usually offers the worst value because it is either inefficient in utility (performs it to a bare minimum which to me is unsatisfactory) or unacceptable in quality (in terms of performance as well as durability/reliability) and thus requires replacing sooner and/or more frequently because of those two things.

FOR ME;

To put this into guy terms, I would rather have a one night stand with a 10 then a two one night stands, each with a 5.

Same argument people use when comparing a reliable Lexus to an unreliable Audi. I would rather drive an Audi 360 days a year, having it in the shop 5 days a year, then drive a Lexus 364 days a year, having it in the shop 1 day a year.

How GOOD you get > How MUCH and for how CHEAP you get
Quality > Quantity

That's just me though...

 

[D Griff]

Yeah I totally see your point and agree on a lot of it. I guess my point is that everyone values, appreciates and percieves different things.

Do I know if the Aldi bananas are as "good"? Definitely not. I have no idea how either of the bananas got to the shelf or where they came from. I do know though, that to ME they taste the same and I feel just as good after eating one than the other.

So, I basically go with the absolute cheapest product I can find that provides me with the experience that I want.

In car terms, I wanted a practical, sporty daily. A Civic Si would've cost me less than a GTI but it's slower, uglier (subjective), less refined, less classy, etc. A GTI provides the driving/ownership experience I want. I do, however, own a base model car because things like leather, DSG, a sunroof, nav, etc. aren't important to me. I bought the cheapest GTI I could (only option being four doors which is very much worth it IMO).

 

[2013R]

Starbucks has REALLY good bananas... the best I ever tasted actually. Try one sometime.

 

[McQueen77]

"...because you're too poor to buy something cheap"

this guy i know that has a business repairing Macs called Macadamia uses that as his slogan and I always loved it.

 

[D Griff]

Starbucks has REALLY good bananas... the best I ever tasted actually. Try one sometime.

But then I might enjoy the experience and expect it in the future and that could hurt my cheapness.

 

[McQueen77]

I'll chime in again. Take whole foods. While I think the food selection etc. at WF is epic and while I am all for not eating apples covered in pesticides, WF is totally, totally ridiculously overpriced, playing on the misinformed emotions of well-to-do urbanites.

We buy all our produce from a place in Sunland called Sunland Produce. Total foreigner hang. you feel like you are in another country when you walk into this place and its just mountains of awesome fruit and veg everywhere. Not to mention small farm raised beef, bacon, all this shit. Eggs.. All of that for cheap. You can get out of there with 2 bags of groceries, heaping for about $35 and this is good produce. Not the shit you get at Safeway or Vons or whatever.. Tomatoes that are red and have flavor, etc. I don't know if its from smaller farms or what, but we go there and its cheap. Unless I have to, I won't set foot in WF. Dont get me wrong, for high end meat, fish, cheese etc. WF rules, but its too rich for my blood. I simply cannot stomach dropping a hundred bucks on one bag of groceries.

So I maintain the produce we get from the mexi/armenian melting pot bizarre is as good as WF. It looks as good, tastes as good and it costs 1/3 of the price. At the end of the day, my grandma who is 87 has shopped at Safeway in Millbrae since it opened decades ago, and before that, Lucky stores, and has never bought organic. She is still alive and kicking. Thus, most of that is bullshit.

 

[C4L]

Yeah I totally see your point and agree on a lot of it. I guess my point is that everyone values, appreciates and percieves different things.

Do I know if the Aldi bananas are as "good"? Definitely not. I have no idea how either of the bananas got to the shelf or where they came from. I do know though, that to ME they taste the same and I feel just as good after eating one than the other.

So, I basically go with the absolute cheapest product I can find that provides me with the experience that I want.

In car terms, I wanted a practical, sporty daily. A Civic Si would've cost me less than a GTI but it's slower, uglier (subjective), less refined, less classy, etc. A GTI provides the driving/ownership experience I want. I do, however, own a base model car because things like leather, DSG, a sunroof, nav, etc. aren't important to me. I bought the cheapest GTI I could (only option being four doors which is very much worth it IMO).

Its all about expectations. What you want the product to do for you will change how you perceive the value it offers.

That is why I hate when people say blanket statements like 'offers the best value' or 'is the best value'. That depends who you ask and what they are looking for.

For me, the best value is the product that offers the best mix of all attributes. Not just the one or two attributes that are most important to me and for the lowest price.

For example, I think a $32k CC Sport Plus is a better value than a $26k Sonata. I think a $26k GTI is a better value than a $23k Civic Si. I think a $50k-$55k S4 is one of the best values for any DD car on the market today.

There are plenty of products, like bananas, where I just want the cheapest (or close to). Different between durable and non-durable goods for that one though.

 

[C4L]

I'll chime in again. Take whole foods. While I think the food selection etc. at WF is epic and while I am all for not eating apples covered in pesticides, WF is totally, totally ridiculously overpriced, playing on the misinformed emotions of well-to-do urbanites.

We buy all our produce from a place in Sunland called Sunland Produce. Total foreigner hang. you feel like you are in another country when you walk into this place and its just mountains of awesome fruit and veg everywhere. Not to mention small farm raised beef, bacon, all this shit. Eggs.. All of that for cheap. You can get out of there with 2 bags of groceries, heaping for about $35 and this is good produce. Not the shit you get at Safeway or Vons or whatever.. Tomatoes that are red and have flavor, etc. I don't know if its from smaller farms or what, but we go there and its cheap. Unless I have to, I won't set foot in WF. Dont get me wrong, for high end meat, fish, cheese etc. WF rules, but its too rich for my blood. I simply cannot stomach dropping a hundred bucks on one bag of groceries.

So I maintain the produce we get from the mexi/armenian melting pot bizarre is as good as WF. It looks as good, tastes as good and it costs 1/3 of the price. At the end of the day, my grandma who is 87 has shopped at Safeway in Millbrae since it opened decades ago, and before that, Lucky stores, and has never bought organic. She is still alive and kicking. Thus, most of that is bullshit.

For brick-and-mortar, the shopping experience can be part of the value one finds in buying the products there as well. Intrinsic value.

I look at comparing Target and Walmart. While I haven't been in a Walmart in quite some time, last I remember, the prices/products are very comparable, the difference is in the way you feel when you shop there. And both company's use their differences to an advantage.

Walmart sells 'low cost' so their physical stores convey this idea of 'low cost shopping' A sort-of warehouse environment that makes people think they are getting a deal. It is a 'cheap' environment.

Target sells 'quality' so their physical stores convey this idea of 'upscale shopping'. A sort-of hands-on, more friendly/personal environment that makes people think they are getting high quality. It is a 'nice/quality' environment.

In either case, the products and prices are almost the same, however. But the demographics of the shoppers (and their perceptions of each store) are quite different because of these conveyed messages their stores provide.

 

[D Griff]

I think we're on the same page, C4L, we just look for slightly different things when shopping.

McQueen... on the money with whole foods, sketchy farmers markets = awesome produce for cheap. Everything else, I get at Aldi and Walmart Super Center. I can deal with a bad shopping experience once or twice a month to save like $150/month.