Is this greed or inflation?

[Pi-network314159]

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink. 

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

I am just surprised you are getting to know this now, since the rise of inflation everything has become so expensive and quality reduced. From A - Z hardly for you to see something that it price has increased and maintain it quality. Well there are good quality but they are now extremely expensive, those things that where common are now top of the market with a high price tag. And you can't see them on a regular shop maybe you need to go to the mall or ShopRite to get some of it. Everything has changed, for example Nylon is no longer what it used to be, you need 5 to 6 Nylons of today to get 1 of the old quality, fabrics today has reduced quality, the last time I bought bread that look exactly like the old one I used to buy, when I bought it, I finished it and was not satisfied. I didn't believe it because back then I can not finish it with my family. Everything has gone bad. Maybe if government should look into this things like price regulations and control, atleast things will get better. But some government are currupt that they don't even care. They may even be the owners of those said company with low quality product.

[Hypnotizer]

I don't know if this is only particular to my country but there's something I've observed about industries and the products they make that I would like to point out for discussion.

I visited a regular shop where I buy home commodities and I remember some few years ago that there used to be a particular yogurt brand that I used to enjoy because of its thickness and creaminess and considering that the weather was hot I went ahead to pick up this drink from their refrigerator, went to the counter to pay, I was not shocked to see that the price is no longer what it used to be, it is now more expensive than before, I was not shocked because I understand that things have toughened up in the economy. That was not my disappointment, my disappointment was that the quality of the product has dropped so much even with the price increase.

I’ve also noticed this for a while atleast in my locality, Groceries are the most common items that experience this kinda inflation and reduction in quality, overtime you’ll notice the biscuit have one missing in the packet or the quality and size of it is significantly lower than before, this applies to almost every grocery I’ve known about in the last couple of years and I believe they’re  doing that so they can continue to serve their target customers while still keeping the business running in this inflationary economy.

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink.  

Maintaining the quality could trigger an very big increase in the price and the company might lose their customers because the consumer would think the price is outrageous and not justifiable that’s why they just try to increase the price a bit and also reduce to quality a bit.  Most of the Companies that run like this sells their products to the middle class and lower class people, hence the reason for this.

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

Sometimes these companies reduce the quality so much and it’s outrageous just because they’re aiming for the maximum profit from their products, and you know businesses would always aim for the maximum profits but if the consumer protection agencies and Quality Control are doing their jobs, this problem can be address and they’ll have a middle ground between justify the quality of the product and gaining profits.

[Creeper0]

There may be several reasons behind the increase in the price of a product and the decrease in its quality. There may even be the greed of the trader.

It is normal that the price will increase due to the changing inflation, there may be no argument about the increase in price. The reasons behind the decrease in quality are the increase in the price of raw materials or the deterioration of the quality of raw materials. When the price of raw materials increases abnormally and is forced to increase the price due to inflation, then to make the price adjustment, the traders have to reduce the quantity of the product or the quality is also forced to reduce the quality for some time. Although this is a crime, considering the situation, the increase in price or the decrease in quantity is legal, but many traders plan to reduce the quality due to greed. If the quality of the raw materials decreases, then in that case the quality of the products made from that raw material will decrease, which is normal.

The main raw material for making yogurt is milk, to be honest, although the quantity of milk has increased due to the development of agricultural science, the quality of milk is not the same as before. The cow that used to give 5 liters of milk now gives more milk, but the loss of quality has reduced somewhat. It is not that it becomes impossible to maintain the quality of the product, but the price may increase several times.

[Cryptomultiplier]

I don't know if this is only particular to my country but there's something I've observed about industries and the products they make that I would like to point out for discussion.

I visited a regular shop where I buy home commodities and I remember some few years ago that there used to be a particular yogurt brand that I used to enjoy because of its thickness and creaminess and considering that the weather was hot I went ahead to pick up this drink from their refrigerator, went to the counter to pay, I was not shocked to see that the price is no longer what it used to be, it is now more expensive than before, I was not shocked because I understand that things have toughened up in the economy. That was not my disappointment, my disappointment was that the quality of the product has dropped so much even with the price increase.

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink. 

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

The growth of counterfeit products at high cost is one of the reasons why so many sicknesses exist that normally don't in time past. These products come with fake or cheap additives that isn't even good for human consumption yet the product is expensive.
Inflation isn't only the problem, fake products and lack of quality control and even price regulation agencies contribute to this, yet the government is bent on taxing everyone and keep borrowing from IMF or world bank all in the guise to help the struggling economy.

This is the height of corruption by both government leaders and individuals who are into production and distribution. We just got to always go for newer alternatives in most cases just to get same product with low quality and cheaper in many cases yet it's still the case. 
I think it's both greed, corruption and little to do with inflation if you look at it closely.

[Byebyebtc]

I have also observed same this as well,
It's quite disappointing you know, when I told one of my friend about it he told me that it could a strategy to get customers at first, that is they will invest a lot of money ath the beginning to make the product attractive then after they have enough they will reduce the quality to make more profits even if they increase prices.

This is too bad, if they are educated enough they will know that it's the quality that brought customers and it's also the reduction of quality that will reduce customers as well. These companies need better managers and producers.

I will say this is definitely greed.

[Mrbluntzy]

Greed or inflation? Nope, it might not be any of them. If you buy a product and discover that it is not having the same texture as it used to in the previous years, the reason might not be that the quality of the product has reduced but it could be due to customers demand. If considering the factors that must have contributed to making the quality of a product to look inferior compare to previous months or years, you would have to look at the new cost of production and profit maximization which can be inflation related but other factors like customers demand  and shortage of supplies, if a company finds it difficult to access the required raw materials used in making the product, they can go for a substitute which might in return have effect on the quality of the product.

Competition and pricing pressure is another important factor to consider in situation like that, though you could say the quality is not the same but the price is still expensive, have you compare the price of other similar product with the quality you're looking for to this one you are complaining about? Similar product from different company can have the quality you are looking for but the price might be very expensive than the one you have got. Therefore, there are so many factors that causes this to happen, it's not just inflation or greed by the manufacturer.

[Felicity_Tide]

~snip

is reducing the quality of product while increasing the price not directly affecting their business?

Sure it is, but it depends if that product is actually competing with other products.
What I have come to notice is that a lot of businesses that indulge in something similar are usually very dominant, and have gathered enough consumers/customers over the years. Personally, I'm never a fan of reducing the quality of a product, but a lot of these businesses sees it as the only way to remain in the game even though some of them can be a bit greedy.

A general solution that I can think of is for these businesses to have two different quality of the same product... One of the quality is going to be the same, while the other should be different for the sake of affordability. Blending into the consumer market is necessary and needs to be done carefully, otherwise, the business is likely to collapse.

[Royal Cap]

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

So here I want to say two things, firstly there is inflation and secondly when a brand gets more popularity for a product, they naturally try to increase the price of that product because they start getting a lot of profit from it. A similar incident happened to me a few days ago, I was a regular customer of a live bakery and I used to eat an item called "Chicken Pabda" there regularly, it was their best selling item, and its price was 0.5 dollars but when it started selling more, they increased the price of that item to 0.7 dollars, due to which I myself stopped eating from that bakery and when I asked them why they increased the price, they replied that the price of the raw material is too high and they had to increase the price, and also said that they have made the size of the product a little bigger. And because that did not work, they brought the price back to 0.6 dollars after two weeks.  I think if they had made the product size a little smaller and kept the quality the same, they wouldn't have had to suffer such a sales drop.

[ZAINmalik75]

This is not particular to your country, because I have noticed and observed the same thing as well, which means it happens in our country, too. I think the reason is pretty obvious; it's greed, of course, because we know that a product, especially when it's an edible product, they can be of great quality only if the used ingredients are of very good quality, and that means the company has to spend more money on creating those products if they are using very good ingredients for making them, so they use not very good ingredients so that they can save money on the production while selling the product at a higher price, which allows them to increase their profit margins.

Apart from this, there is also another thing if you have noticed. It is that the products won't even have the same quantity as before. Sometimes the price might not be that high due to inflation, but the companies start reducing the size of the products to cut costs, and then after some time, they start reducing the quality as well, and then if inflation increases, they will increase the price as well, and now you will have the same product in less quantity, lower quality, and at a higher price.

[BlackHatCoiner]

If they raised the price only and did not drop the quality, creamy yogurt's costs to produce in today's melting fiat currency, you'd probably drop dead at the checkout.

Consumers have a strict psychological limit on how much they are willing to pay for fermented milk, and that applies to every other product. Welcome to the fiat standard!

[snowpega]

I don't know if this is only particular to my country but there's something I've observed about industries and the products they make that I would like to point out for discussion.

I visited a regular shop where I buy home commodities and I remember some few years ago that there used to be a particular yogurt brand that I used to enjoy because of its thickness and creaminess and considering that the weather was hot I went ahead to pick up this drink from their refrigerator, went to the counter to pay, I was not shocked to see that the price is no longer what it used to be, it is now more expensive than before, I was not shocked because I understand that things have toughened up in the economy. That was not my disappointment, my disappointment was that the quality of the product has dropped so much even with the price increase.

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink. 
...

I don't know which country you belong to so that I can discuss this matter accordingly.
There is a very famous saying that if you want to stand a brand for long term then you can compromise on quantity but not on quality. Then this becomes the reason your customers start to trust your brand product. The inflation rate can not be neglected at any chance in the current time, as it is now a common thing around the globe. I also don't know the brand name that you are talking.

Some brands, when they start to get good sales, then they become greedy and start to look for ways to reduce the cost of production.
And in this way, they start to compromise on production quality and increase brand production. During this, they earn good money but for only a short time. So, it is always adiseable thing that never compromise on quality if you want to stay in the market for the long run among your competitors.

[Localhostspeed]

I visited a regular shop where I buy home commodities and I remember some few years ago that there used to be a particular yogurt brand that I used to enjoy because of its thickness and creaminess and considering that the weather was hot I went ahead to pick up this drink from their refrigerator, went to the counter to pay, I was not shocked to see that the price is no longer what it used to be, it is now more expensive than before, I was not shocked because I understand that things have toughened up in the economy. That was not my disappointment, my disappointment was that the quality of the product has dropped so much even with the price increase.

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink. 

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

Thus can only happened in a country where market standard is not evaluated. There is this SON, standard of Nigeria that is responsible for this job, that's is their job and it's their duty to make sure that no substandard product are sold to people, it's either they quit the product or they continue and make it standard and increase the price but they will not, they say economy hardship will not make people to be able to afford it and they will rather reduce the quality and increase the price by twice.

Many products that we are consuming at home are not quality enough, in other part of the world, you will get what you paid for and you will never get a substandard product but in a country where human is not value, where companies put their profit first will do anything to make money and wouldn't mind to produce product that can have adverse effect on people and to remind you, this is not about yogurt alone even drugs for health care are produced this way, our society is scary.

[Youngrebel]

Inflation is quite normal because there is always a change in the economy but there are times that it's actually caused by greed. In my country the prices of goods increase mostly because of the increase of the price of petrol and when it decreases the price of those goods don't go back to their normal price.

People are greedy and they want to look for any means to make more profit, I think that there should be agencies that should be regulating the price of goods, when they get too expensive more than they are supposed to these agencies should do what they can to intervene.

A lot of these products are not even gotten from the original source, they go to where they can get it extremely cheap not minding If the quality is original or not. All they care about is the profits that they are going to make if they buy at a cheap price and sell them at extremely high amounts.

[Crypto_Timothy]

I visited a regular shop where I buy home commodities and I remember some few years ago that there used to be a particular yogurt brand that I used to enjoy because of its thickness and creaminess and considering that the weather was hot I went ahead to pick up this drink from their refrigerator, went to the counter to pay, I was not shocked to see that the price is no longer what it used to be, it is now more expensive than before, I was not shocked because I understand that things have toughened up in the economy. That was not my disappointment, my disappointment was that the quality of the product has dropped so much even with the price increase. ?

I would always prefer you increase the price since the cost of acquiring raw materials is now expensive but then the quality must never weaver if at all, it should get better with time and if you increase the price because cost of the raw I will always understand. Some sausage brand here in my country, they increased the price but then in your sausage roll, I can't see any meat at all, just dough,like that's bad. Increase price but mehn, maintain quality at least.

[AmaGold70]

I would call these greed because the company want to make more profit from their  yogurt with high price but reduced quality of the yogurt. This act is actually a way of reducing trust from their own customers. If you must grow in your business, we have what we call customer satisfaction, you should endeavour to satisfy your customers by giving them what they need, if you are now providing sub standard products for your customers, it will not only end their, but they will extend the information to people outside, and they will begin to loose confidence in what you are selling, and this is the reason why two persons can be selling the same thing but different in the quality of the product, people will always go for the best product. No, body needs a fake product when you increase the price of a product as a result of cost of materials, the quality of the product too should be increased, and that is the right thing to do.

[Odusko]

This is what we are facing and is becoming a global problem as the general drop in quality and price hike along the way, some product got remodel and the newer version become less quality compared to the first set which is the Old model, and price too get increase significantly, I don't know if customers protection board of my country are bribed not to do their job and allowing all manner of substandard goods in the market.

[Powerjumboo]

This can only happen in a developing country, it's a playing ground where people like robbing themselves up in the name of the country is now harder than what it used to be, this is something that would land that company in big problem if it happens in America.

To buy anything in a developing country itself isn't safe anymore because you can buy something that will end up killing you, many things aren't original like they used to be anymore. Be careful what you buy and eat or drink.

It's ten times safer when you prepare your food in your house yourself, people don't put effort in what they do best anymore because the return they will get is not changing anything for them, they got tired but keep going because they have no other choice.

I find a lot of logic in your words because increasing the price of a product and reducing the quality of the product is possible only in underdeveloped and least developed countries but this is never possible in a developed country because people in developed countries do not have such a mindset and their mentality is different but when you go to a developing country their mindset will be different and low quality and their only mindset will be how to earn money by cheating people.

However, all the companies which increase the price of their products and reduce the quality of the product to a lower class need to be monitored by consumer rights and properly scrutinized and a case needs to be filed against that company and if necessary others need to be banned so that they cannot do such things. If a few companies are punished in this way, then I think it will be possible to improve the quality to some extent.

[bhadz]

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink.  

It's the same with our local bakery when I buy the pandesal(small hot bread). It used to be cheap before, and it's only around P1 or $0.02 per piece before that, which I think is more than a decade ago. And as time passes by, the quality of it decreases, together with the shrinking of its size. The quality can't be maintained at its peak because of how the ingredients have increased over the period of time. They want to increase the price and quality, but they are afraid that most consumers will look for a cheaper one to buy, and I think it applies to most products. And these bakeshops and other stores are not there to make themselves rich but just like us, trying to survive and make a living out of it. So they have to choose which one is weighing in more to continue business and that's to adjust with the quality and not so high with the pricing. But when there's monopoly, we'd see even worse of what they can do.

[freedomgo]

If this is inflation, price will only be affected but the same taste or quality of the item will be maintained. But if its affecting the quality as well, now its already greed. The seller clearly wants to make additional profits by cutting back on flavor ingredients to save more money, which will affect the sales of the item in the long run especially when the customers are craving for the old taste.

I have different experiences with this matter. Some sellers changed to increase their margin of profits, while others do it because the preparation for that is too complex that it requires more time and effort. This is why when it comes to food, its better if you make your own to satisfy yourself, in terms of taste or quality.

[Joy- maker]

Now my question is, why can these industries not increase the price of goods and maintain the quality? why is there an increase in price and then still the quality is being reduced. I have noticed this across so many other product in my countries market, not just this yogurt drink. 

I know that this will not be so if my country has a good quality control unit, but even without that, why can these industries not act right and maintain quality, is reducing the quality of product while increasing the price not directly affecting their business?

I know my country, Nigeria, very well, and I also know what the citizens of Nigeria are capable of. Most of these things are not actually caused by the industry that manufacturer the yogurt. Remember that a product can be rebrand, if you were not aware let me inform you, because I have been to places in Nigeria where products are rebranded. So don't be surprised if the reduction in the quality of that yogurt is not from the industry that manufactured the it, but from fellow Nigerians who chose to be greedy by rebranding already made product just to make more profits.