There is a real dichotomy emerging in most consumer markets. Ultra cheap and ultra expensive. Although it’s fair to assume that something that is 3 times the usual price should have three times the utility, chances are things aren’t so symmetrical.
In real estate a house that is twice the price is often 4 times the size and far more than twice as good. However in consumer goods, something that is 3 times more expensive, might only be 50% better.
Maybe the fact that it is the ‘most expensive’, justifies the price. The price becomes the defining feature.
A great example of this is the Bugaboo Pram. I am sure they are better than the average pram, but how much more effective are they in real terms? Are we really going ‘off road’ with our bundle of joy? Or do we want to advertise to the world that we have spent as much as possible on a pram for our child?
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