The price and the cost – Platinum Engineering

The price and the cost

PUBLISHED: 5 Oct 2017 13:15PM

Many people don’t realise that these two things are worlds apart.

Looking at a price of milk in a supermarket can have the same price but many different costs.. For example walking to the corner shop and paying £1.10 for a litre of the white stuff or getting the car out of the garage to take a drive to the local supermarket to pay 90p. the price is clearly cheaper but the effort require to secure it; is taken up by significantly more cost than 20p. The cost in time, fuel and other associated factors leads to the 90p probably being closer to £1.50 so the cost is actually more than the price. However this isn’t all about cost saving. Some people prefer the milk from the local organic farm shop where the price is closer to £2 per litre. The difference here is the purchaser makes the choice on personal taste and quality. The decision to pay a higher price and cost pays back with the guarantee that the quality is high, the care has been taken to ensure everything is a premium and rewards the purchaser by paying a higher price, in the knowledge they are receiving the good stuff !

A common way to identify people don’t mind the added price for quality, is to look around a factory car park. Spot the amount of cars , which cost over £10k. The question is.. why not buy a car for £500, it still gets you from A to B ?. The cost of owning a £500 car is probably well into the thousands after a year or so of replacement parts and repairs. Purchasers prefer to buy quality and the price has a much more positive outlook on the cost.

Our engineers have multiple training courses across the year and are actively encouraged to progress within the company. They are backed by state of the art software systems, high end tech and a multitude of specialized tools at their disposal. As a product of this , our price may be higher but the cost is most certainly not.