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Quality versus cost is a battle that wages in almost every purchasing decision. Whether you are buying heavy machinery for a major company or getting a blender for your kitchen, or even grocery shopping, there is always a cheaper way and a more expensive (but usually higher quality) way. So, just when is it worth paying up for a higher quality piece of equipment and when should you settle for something in a lower price range?
While not everyone likes to think of decisions in mathematical/scientific terms, usually a decision between price and quality should be looked at as a cost/benefit analysis. For the cost part, simply state the difference in price between the two products. The benefit part might take a little research. Look for consumer reviews to see how previous customers compare the two pieces of equipment. If the quality equipment is expected to last twice as long as the cheap version, write that down. Also write down how much most people seem to prefer one over the other. When you are done, compare the two. If the quality version costs twice as much, but is expected to last three times as long as the cheap version, it will probably be worth springing for the quality version.
While setting up a cost/benefit analysis might seem like just restating the problem, and it basically is, it can help you compare the benefits and losses of one decision over another. If you are not usually an organized or mathematical thinker, this might seem like a strange approach to you, but it is a very helpful approach in areas such as this.
