e-dreaming

For some reason (I suspect that it probably has something to do with the economy) I seem to be hearing the word "cheap" a lot more frequently than I used to.  I hear it most often from clients, or prospective clients, who are hoping we can save them money... okay, it also seems to be the name the staff occasionally calls me, but I pretend not to hear.

But is "cheaper" really better?  Is "cheaper" even really cheaper?  When looked at in isolation, cheaper certainly seems to be better.  I mean, who would wisely spend more than they need to?  In reality, most often when folks say that they want something "cheap," they really just want to pay less for the same product or service.  They don't really want to sacrifice quality, or quantity, or speed, or efficiency, or convenience, or any of the other benefits they would receive at full price. They just want whatever they want for less than what they're used to spending (or less than what they have been bid).  But the reality is that most of the time (assuming limited intervention by the law of supply and demand), whatever they get "cheaper" isn't the same as what they would pay regular price for.  So, in essence, cheaper isn't really better... which is why the word "cheaper" has fallen into ill-repute. 

I would contend that always seeking "cheap" is terribly counter productive, often leading to undesirable results.  In marketing, going "cheap" often means you do a poorer job of stimulating business, and thus, the return on investment may actually be substantially worst than a pricier alternative, and ultimately, end up feeling like a complete waste of limited resources.  Going "cheap" on printing costs, may mean that the quality of the product begins to decline, or that your local printer goes out of business... and when you need those last-minute jobs, you'll be stuck with those fast-service, incredibly high-priced alternatives.

Good value is much different than "cheap" and most consumers really already know this.  But the pursuit of "cheap" often times keeps them from ever realizing the better value option, i.e. once customers insist upon "cheap," eventually the vendor or manufacturer gives up on producing the higher value option.  A classic example is "service stations" vs. "gas stations."  (I can't imagine anyone not wishing there was a station attendant to pump your gas on those cold and snowy days.)

Understandably (and rightfully) we all look for ways to cut costs and preserve cash.  The question we need to ask ourselves is, "is the money I'm saving worth the cost!"  If we consider that the true cost is the potential for improved returns, higher quality product or service, improved customer and vendor relations, improved self image, saved time (how much is the time we spend trying to find or negotiate "cheaper" worth), etc., I suspect we would often realize that what we "save" is actually more than offset with what we lost.