Lee Iacocca: Economy over Frugality
on Monday, July 5, 2010Lee Iacocca money quotation suggests that he believed consumers may be penny wise but pound foolish when it comes to what they want from their cars.
“People want economy and they will pay any price to get it” — Lee Iacocca
In this quote, Lee Iacocca is making an observation about consumer behavior and priorities. By saying “People want economy and they will pay any price to get it”, Iacocca is suggesting that saving money and getting good value are highly important goals for many consumers.
Even if a product is expensive, people will purchase it as long as it offers an economic advantage over alternatives in terms of lower overall costs.
Iacocca’s statement implies that consumers are willing to pay higher upfront prices if it means greater cost-effectiveness or savings in the long run.
The quote recognizes that economy and affordability are strong driving forces behind people’s purchasing decisions.
Birthday: October 15, 1924 – Death July 2, 2019