Whether acquiring it for commercial or personal use, the product’s price persists undoubtedly the most considered factor one tends to look out for when making purchasing decisions. However, we can’t deny the fact that other forces influence buying too. In this article, we explore the various factors that determine the prices.
The increase in the application of modern machinery poses the demand for quality devices that meets affordability criteria. Despite the form of application, the product should fulfill the customer’s needs and be viable. The world is changing rapidly with state-of-the-art machines produced every day, and Kenya is no exception to the incredible transformation. Product knowledge is crucial, and here below, we focus on the four factors influencing market prices for air compressors.
Purpose
In reality, the form of application of any commodity has been used as a critical factor in determining prices. The motive for usage can be termed as either industrial or domestic, but whichever the case, price differentiation between the two comes in. Regarding our issue, the air compressor price in Kenya is differentiated because it serves in different ways ranging from manufacturing, construction, agriculture, spray painting, energy sector, and pressure washing. The factors eventually define the price for the various devices differently.
Power Supply
In today’s world, devices are designed in a way that they can accommodate different types of fuels to run them. Depending on whether the device uses electricity or gas, its market price differs in the availability, accessibility, and fluctuation rates of the substances. The resulting feature indicates that the readily available fuel influences low prices as opposed to the others. The power supply can change the rates of devices at a considerable amount.
Horsepower and CFM
Cubic feet per minute(CFM) entails all about rate measurement done as air is moving while the horsepower is involved in tracking the blower’s power in a dust collection unit. The essential part of this relationship between the two is that when CFM is shorter than the horsepower ratio, more energy is saved and vice versa. Devices possessing a higher CFM rating provide more air which supports larger applications resulting in the devices being in different sizes that attract separate price tags.
Manufacturer
In any economy, there exist multiple players in every field producing the same products and competing in the same market segment. The competition pushes firms to modify their products to attract consumers’ attention. What follows is that it gives room for creativity and innovation that brings about the best in products, thus allowing companies to set prices that they feel match their value. The availability of different device brands comes with distinguished prices, with key brands fixing their prices high contrary to the small companies.
Conclusion
As far as product pricing is concerned, it’s worth noting that the highly-priced commodities don’t always guarantee the best quality. On the other hand, inexpensive products may not always reflect inferiority. Therefore, it’s advisable to consider other factors beyond pricing and settle for something that gives the value of money. Contemplate on this one and be guided all along. Source: https://www.aircompressors.co.ke.
