A thing is "overpriced" when it doesn't sell and the company ends up dropping prices to try to keep making money, discontinues the product because it's unprofitable, or goes out of business. Just about every other time it's used, it's an individual value judgement.
overinflated due to market supply and demand
That is literally the only way pricing winds up fair.
If people don't buy your stuff, your prices are too high.
If you can't keep it in stock because it keeps selling out, your prices are too low.
It's not that complicated.
“overpriced” ... ‘not worth it’
Those phrases are almost interchangeable. In most cases, you can safely replace "it's overpriced" with "I wouldn't pay that much for it". The only real difference is that the first sounds like an objective statement of fact and the second is obviously an opinion.
That is a word used by people who think that their opinion is the only valid one, and I generally do not have much respect for that type of mindset.
Agreed.
Hold my beer ..... I repeat myself and present to you:-
Mac Pro Stand US $999
Mac Pro Wheels US $699
2 x 32gig Mac Ram US $1299
Thread over ! :)
Ben
So....this is one of those things where you're kind of right...but if we're arguing semantics, I think there are better examples and phrases.
The new Mac Pro is not overpriced, it's an abomination. At those prices, they should be competing with Xeon Scalable and Epyc workstation class systems. Instead, they try to compete with Core and Ryzen desktop systems so that they come out on top most of the time. They only make any kind of
objective sense for specific types of video work, and only when you're not comparing them to similarly priced systems.
I am an Apple user - the trade-offs involved are a little better right now than the trade-offs involved in running Windows. But, their hardware is objectively worse than PC hardware in most respects other than certain synthetic benchmarks, especially when value comes into play. They get away with it because of a handful of loss leaders (macOS and Logic come to mind for "us" as well as iCloud for non-dorks) combined with aesthetic design, lifestyle marketing, and a reputation for making things "just work" that they haven't really deserved in years.
BUT: There's obviously a wide market for such stuff. I didn't expect that, although when I think about it again, it doesn't come as a big surprise. The pricing is part of the marketing strategy, maybe more than it is to cover production costs. Best example: Red Bull
Grey Goose is a better example. Their story is kind of insane.
They had the marketing, packaging, ads, and placements in media (esp. Sex and the City)
before they owned a distillery. The characters on SatC literally started ordering it in the show before the company had a product to sell.
After the demand for this new high-end vodka was observed out in real life, they bought a failing cognac distillery in France and made them switch to making vodka. Reportedly, they never even cared if it was good vodka...they just wanted every batch to be the same.
It's a masterclass in marketing. But, the product they were selling, at least at the beginning, was being seen ordering Grey Goose...they were selling looking fancy. The vodka itself was inconsequential. Now...people only buy it out of something like behavioral inertia, and they only still make it because their costs are so low that it's still profitable.
Red Bull at least has a unique flavor.