We have all experienced the difference between a product that is cheap and one that is of good value. It is fairly easy to imagine a consumer deciding on the cheap and fast approach when purchasing something that they know will not last. Things such as toys, cell phone cases, or a pair of pants may fall into this category. However, a consumer would prioritize quality and time more highly than price for items such as a set of tires, a child’s car seat or an engagement ring. These items are more personal and ones that we should expect to last.