When cheap is expensive
What do we mean when cheap is expensive…
We have inevitably entered a recession, as was fully expected as a result of the pandemic. I for one am hoping that by remaining positive and buoyant we can weather the storm and bounce back quickly as a nation.
When times are tough, it is often tempting to choose products or services with the lowest price tag, but sometimes the lowest price tag doesn’t mean the cheapest – it can end up being the most expensive option. Allow me to explain.
Price and cost are not the same thing.
An accountant might say that cost is how many pounds it takes to make or provide a service, and price is what the customer pays.
I’m not an accountant and I am not talking in accounting terms here. More in terms of the VALUE of what you can buy.
But the cost of choosing a cheap service where corners are cut, the service is bad and the quality is poor . . . can be very expensive. . . in terms of the time you have to take yourself in dealing with things that haven’t been done, mistakes that have been made or simply worrying about what might go wrong next.
If you just buy in terms of price, the cheap product/service, are you getting the best value? Probably not.
Value is perception. It means something different to everyone. It is in the eye of the beholder. It’s about benefits. It’s about what you as a buyer get out of the transaction. How happy do you feel about the purchase you have made?
What has this got to do with logistics? Well, logistics and warehousing, like any product or service comes in a range of shapes and sizes. At Masters we believe in delivering great value, every time.
In business to business markets, value is made up of the economic, technical, service and ‘well-being’ benefits a company receives.
But of course, although it is business to business. . . it is still people buying from people and at Masters we never forget that. We add value every step of the way.
Cost has got to come into it. It costs more to deliver a great service, than it does to deliver a poor one.
What great value looks like
- Award winning overnight pallet delivery
- Deliveries on time and in full
- Proactive customer service with a smile
- Bespoke warehousing and logistics solutions
- Modern, clean and efficient fleet
- Happy dedicated drivers and workforce
These things don’t happen by accident. They take investment and nurturing. We work hard to ensure we deliver incredible value to our clients. They don’t need to worry, they only need to ask, they can consider it done.
We do the ordinary, extraordinarily well.
That is great value.