Does price equate to value? In other words, should we expect better from more expensive goods. Luxury goods – as described by economists – are products that are perceived as a luxury, and are priced thusly; cars, huge televisions or fancy coffee machines come to mind. Certainly with these products you expect quality – you don’t spend a huge figure on a new Jaguar, and expect to have to trade it in or fix it after just a few thousand miles.
We expect this from our luxury goods, should we not expect it for other elements in our life that we spend money on – namely events.
Understandably the factors that formulate a price for an event are mostly cost related. I get that. However with a price tag you immediately expect a certain quality. With my experiences lately, I’m not sure I’ve been getting that experience from events I’ve paid for.
From a personal anecdote, I had the luck to secure a ticket to Reading festival a number of years ago. The price was rather high, but for me it didn’t matter as I had the chance to see some incredible live music and spend it with great company. However comparing that experience with the times I’ve had at other festivals since, I can see that Reading really is not worth the price or the hassle.
I wonder if other larger events, such as conferences, are guilty of similar sins.