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Warren Buffet

What is value and why is it more important than price? — Part 2

Take me for example: I don’t particularly like Ryanair or their customer ethos but I do acknowledge that they — and low cost carriers like them — revolutionised the international aviation industry and thus allowed more of us to travel, and more often. Whilst I do put a value on comfort and convenience, I also put an almost equal value on cost so when the price differential is high and the length of time that

What, exactly, is value?

The sage of Omaha, Warren Buffet, once famously said that ‘price is what you pay; value is what you get!’ He was talking about choosing stocks but the principle holds true for practically everything that is traded and travel arrangements are no different. The Internet is an amazing resource which millions of users benefit from and it is certainly a useful (albeit time-consuming) tool that consumers use when they are researching their next trip abroad.

Why is it always about the price with travel arrangements?

Now in case you think that this is a stupid question, please bear with me for a moment. Price is of course extremely important — particularly for those who are on a budget — but I get the sense that people are increasingly focussing in on the price alone when comparing travel arrangements, products and services to the exclusion of all other metrics and that's not a good thing, particularly for the purchaser. Reason? It's

The art of getting a quote that is both competitive in price and relevant to your needs starts with gathering all the right information about what you want to do (or think you want to do!).

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