what is more important to you PRICE? or Quality?

Question

I own a small buther shop and I am torn weather to qgive up quality in order to be able to drop prices to intice people to buy more

Answer 1

For me Quality. For most Price. Most wouldn't know a quality peice of meat if they were slapped with it. Have some cheap stuff on display. My butcher keeps the show case full of beautiful looking meat, because he says that's what sells. But the nice marbeled steaks and well hung choice cuts he always goes in the back to get these for me, and they are always succulent and tasty.

Answer 2

I would say if people are going to a butcher shop, there's an expectation they are meat experts and hence have better quality meat than the average grogery stores. You could do a quick survery with your current customers (offer some samples too) about how much importance they weight on quality vs price (my company does this for larger firms). Surprisingly, its not always about price... or we'd all be driving Hyundais...

Could you offer varying quality/price points? Most often, when three price points are offered (low, great quality, high quality), people will choose the middle one (there's some psychology to this). It might hurt your business in the long-run if you just offer low quality meat... (although your customers can answer this better than us!). Best of luck!

Answer 3

Quality

Answer 4

Quality is always the best choice. However if your customer-base only buys on price, then I am afraid you will have to compromise on your quality in order to be competitive.

On the other hand, you may wish to set up another section at your shop which caters to lower quality and hence lower price. In this way your customers can compare the difference.

Answer 5

Quality is really important yet due to insufficient funds or let's just call it financial problem, many people consider the price of the product instead of the quality. In your business, you must consider both in order for your customers to trust you (your shop). balance everything first. differentiate all products that you're selling by looking at its price and quality. Well not all high quality products are expensive. I hope this can help you.

Answer 6

Quality....

When you have a product of value, customers looking for quality products know they are going to get their money's worth.

When I started my business, I was running into the same problem. What I did was search out prospective customers that were interested in quality. Look & you will find them.

Don't de-value your products by settling for a lesser price than they are worth. You just have to find where to market your product.

Offer a discout for first time buyers or quantity discounts, buy 2 get 1 free. Offer monthly specials.

Good Luck to YOU!

Answer 7

There are some things that you might want to know. First of all, quality is what keeps the customers coming, not the price, even though it has some effect but still quality is still above everything.
There is one thing that my father used to ask me is that would I rather sell faster on lower prices or prefer slower sales but higher profit gaining.

Answer 8

Hi,
It all depends on each persons demand (his needs) and his supply (of cash).
So everybody who answers here will reply based on his demand and and supply.
That is why marketing people target only a subset of consumers and call them their "market segment".
Or you may do both like Toyota.
Their common man vehicle is sold as Toyota.
Their top notch vehicles are sold as Lexus.

Keep an ordinary man product - "a balance between price and quality" and Keep a premium product - "good quality high price".

Answer 9

Both, low prices mean nothing if the quality is bad. High prices are not worth it if you can't afford to buy no matter what the quality.

Answer 10

Always Quality.