Monday, June 1, 2015

How Important is Value? M1 Case Study

Just to be upfront, I don't have any investments in any of the 3 local telco's at this point of time. I tried queuing up for M1 at $3.5 in early May, but I didn't get it (luckily).

Don't worry, this isn't a campaign by Gushcloud for Singtel. As this is a personal blog and I don't pander myself for endorsements or advertorial work, I have full artistic control of my work. Very artistic hor.

Anyway, I have been a customer of all 3 telcos before and honestly, honestly, honestly?

Like super freaking seriously and honestly?

They are all about the same.

So anyway, my contract ended a while ago and I was online checking out phone plans, and saw this on the M1 website and I thought that this might be a good case study to share something I've learnt about looking at value.

Between the Lite+, Reg, Reg+ and Max, you can see that they all go up in $20 increments, however, the benefits received do not. In fact, they scale up!

This means that you get more value when you go from Reg to Reg+, and even more value when you go from Reg+ to Max, compared to Lite+ to Reg!

Which is the best value plan?

Of course, just comparing the Lite+ to Max plans, its obvious that the Max plan gives you the most bang for your buck!

But... should you get it?

Unless you can consume that much, I think most people will understand that there is not point getting a more "value" plan, because it would all be wasted in the end.

Which is the same concept as buying a right-sized house, or buying 1 slice of pizza even though a whole pizza is obviously cheaper per piece. Or ordering a-la-carte even though there is a buffet option. There is no point paying for something that you would not use. That is just unnecessary over-consumption.

So, is value everything? I don't think so.

PS. Don't confuse Price with Value and don't forget to consider Affordability as well.

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