Value verses Price

waz1

The airwaves are filled with debates on price comparisons and retailer closing down in that everyone looses game of “race to the bottom”. In these tough economic times, we constantly hear of cost cutting & no frills approach, Lean is everywhere. Personally I’m getting a little tired of having to pay extra to bring my bags on a holiday or book a hotel room only to discover that breakfast and car parking are an additional charge. I have nothing against the no frills providers, hey I’m a regular customer but feel like every company is following the same strategy. Every now & then, I am happy to pay that little bit extra for that added service.
Are peoples purchasing habits based on price alone or does the value of the product / service play a part?
Toying with a business idea at the moment and just looking for peoples opinions, something where value is the key driver in the purchasing decision, allowing the customer to compare the total value of the offering
I guessing someone is going to say, that I have just defined how the National Consumer Agency should operate.;)

cson

Depending on the product/service I'd imagine it could be difficult. Especially in these times more than ever value = price for a lot of people. Good luck with it if you decide to run with the idea.