Don’t we love the latest and greatest gadgets? But the only thing limiting us from adding these gadgets to our arsenal is their hefty price tags. Eventually, most of us look out for the most value for money proposition and settle with the one that suits our pockets. Despite their hefty price tags, most of these expensive flagship gadgets sell in large numbers. Ever wondered why?
A sane brain is mighty curious when it comes to justifying the price these expensive gadgets demand. We have often wondered and many of us are also aware of the cost price for most of these gadgets. Let’s dig into the thought and understand if these flagship gadgets justify their price tags.
Take a look at all the flagship devices and gadgets – from smartphones to televisions to just about every gadget you can think about. You will notice something peculiar. While some gadgets are mighty impressive, others are utter disappointments. In such a case, it becomes hard to even justify such devices as top tier options.
Why are flagship devices expensive in the first place?
To answer that question, let’s understand the meaning of flagship. Simply put, it is the best device by the manufacturer for that particular year under a product category. Compared to the manufacturer’s line-up for a year, a flagship device gets the best of hardware and software support. When it comes to hardware, it is all about design, choice of materials, build quality and finish that the manufacturer opts for.
This is applicable to just about every appliance or gadget offered across manufacturers. Premium design, materials and the features they bring to the table come with a cost. Some devices push the elements of hardware premium beyond the software experience. Premium material choices and customised designs are termed luxury and hence come at a price tag unjustified by most salary earners.
Let’s steer away from those ultra-premium choices, as most other devices outsmart them when it comes to utility and justifying their price tag is like justifying the prowess of a money controlled simulated reality. Coming back to the choice of masses, most tech giants are bridging the gap between luxury and premium flagship offerings. Pushing the boundaries of design and material choices, current flagship devices are an accessible luxury.
Bulk production, yet a hefty price tag?
Most of us understand that buying wholesale is cheaper than retail. Hence, we can also deduce that bulk production is cost effective. And yes, it makes perfect sense. But production is just a part of the product cycle. Post production, these devices are packaged, marketed and sold via various platforms. The added cost of marketing and sales channels sum up to make a major part of any product’s market price tag.
Certain brands sell their products exclusively on online platforms, thereby saving the cost of shipping the product everywhere for offline sales.
How does one justify the price?
With the increasing rate of inflation, prices of most devices, especially flagships, are on the rise. Considering these factors, one can say that price is justified when a product meets and exceeds the standards set by its predecessor. The competition also plays a major role in justifying the price of any product.
What truly justifies the price of any product are the industry standards set by a particular product category during its launch year. Technological innovations, quality, choice of materials and brand value additions are things one must consider when choosing an expensive gadget. But then, human minds are beyond explanations.
Justify your purchase by your desire for the product, nothing more nothing less. If you’re still not happy, just start your own gadget making company.