IT’S ALL ABOUT THE LABEL, STUPID!

Irony of life..

Someone says..

Baygon is almost 2, 000 Naira. This is absurd, because its technically cheaper for me to contract malaria and treat it, than buy that insecticide.

The classic case of penny wise pounds foolish

Although this is meant as a joke, being a health issue, it illustrates the necessity of thinking whenever we want to bring out money for goods and services. Always think, is there an alternative that would serve just as well?

A tech enthusiast, who would ordinarily go for the ‘best’ money can buy, well-known established brands only, recently had a Eureka Moment by saying…

Recently, I was watching a tech documentary about the Samsung Galaxy S9+ smartphone.

The total cost of parts is $384 whereas it’s sold for $880.

For the iPhone X, the total cost of materials is $370 whereas it’s sold for $1000.

I investigated further to find out how Chinese companies (like Xiaomi) using exactly the same parts in the Samsung Galaxy S9+ manage to sell at cost price or slightly above cost price.

He then asked himself a rhetorical one,

Will one continue to spend so much on these well_known brands??

Good question..

Many of us simply waste money because we (feel we) can afford to waste money. Some of us do it from brand loyalty. Many more for ignorance.. And yet others to keep up with the Joneses – status symbols.

Add long as our decision doesn’t stem from ignorance, there is nothing wrong with these reasons.

When I insist that a late model Hyundai is far better value than corresponding Toyota on all fronts, people think someone is dreaming and needs top wake up.

Truth is, many car companies share parts, and often, all you pay for is the brand stamped on the car. Same goes for gadgets like television sets, smartphones, even some drugs.

I once queried why people spend so much money on items (say the iPhone) when numerous bfands exist that would serve just equally. I thought it is a mental disease.

Someone artfully responded,

True; we all have our different brand of madness. I am looking out for your specific brand now!

Okay o.

So, before shelling out money for a known brand, ask yourself if generic would not do just as splendidly..

Yes, maybe you can effortlessly afford the known brands, but then, why set fire to money willingly? It is a cardinal sin in my religion!

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