Thursday, February 16, 2012

Brand Loyalty

I used part of the Target gift card to get furnace filters. I bought a couple of the 3M Filtrete filters which were on sale for $8.99 each. I thought I was getting such a deal.

Then, I went to Ace Hardware to pick up locks for the office. We use padlocks on our instrument cases and periodically have to buy a dozen and have them keyed the same.

While picking up the locks, I noticed their furnace filters. A 3 pack of Ace brand, which are identical to the Filtrete filters, was on sale for $9.99. I didn't have to think twice about buying a 3-pack. I have almost a year's worth of filters now, even if I change them every other month as the furnace guy recommended. So, I questioned my loyalty to Filtrete.

Brand loyalty can be a good thing. I have a key ring with a number of loyalty cards. You make a purchase, swipe your card and you rack up points towards something. This encourages loyalty plus a guaranteed revenue stream. But, the price of loyalty is not something I'm always willing to pay. I intend to look over all the brands to which I have an expressed loyalty and assess whether I get much out of that loyalty. Is this an "in name" thing only or do I have value with it? Value can be difficult to quantify and is rather subjective.

Still, this particular purchase has caused me to reassess where I spend my hard earned cash. If I get the same thing for less money, that puts me farther along the path to being where I want financially. Loyalty doesn't have to be expensive, but it seems it is. Time to filter the good loyalty from the bad.

See what I did there?

Beverage:  English Breakfast tea


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