Comment by Gigachad
1 day ago
Competition partially causes this though. When you have 100 brands selling the same thing it became a race to the lowest price.
1 day ago
Competition partially causes this though. When you have 100 brands selling the same thing it became a race to the lowest price.
My experience is competition invokes two races happening at the same time, one for lowest price and one for highest quality. You can get a cheap car or really high quality car. Same goes for clothes, restaurants, basically anything where there is lots of market choices and competition.
That doesn't make any sense. The most expensive cars are also the least reliable. Rich people have multiple cars so when the Bentley has an electrical glitch they just drive the Porsche.
Quality means different things to different people. But the fact that Bentleys and Porsche exist support that case that not everything in a competitive markets drives things to the lowest cost product.
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An Audi typically requires more maintenance and repair than a Toyota though. You’re not paying for quality (as in durability/longevity)
The upper end of a lot of these product categories is often populated with overpriced junk that's popular for conspicuous consumption reasons. Clothing is the prime example, but a lot of modern fine dining is also trash (who actually enjoys eating flavoured foam?). So there's actually three races: lowest price, highest quality, and highest brand value.
Depends- i care about the quality of power tool I buy. There’s plenty of competition, but most of it I won’t touch because it’s some “Zissbou” brand off of Amazon.
The competition on the high end is great! Makita, Milwaukee, and others battling it out. Better materials, batteries, designs. But I’ll only pay for actual performance, so there’s no where for bad actors to hide.