I remembered how seven years ago became a big turning point for Samsung -- it was when Samsung sold more phones than Apple. It's the principle of substitution. It always reminds me of how some people who have way more money than I do still take a less pricey substitute rather than the more pricey luxury items. In economics, that would be the principle of substitution.
It was based on my experience when I lost my i-Pod to damage. Sure, I could afford to have it repaired but it startled me. I remembered when my Samsung laptop won't turn on and I only paid around PHP 2K+ for the repair while I would have to pay for almost PHP 10K+ for the repair of my i-Pod. With that in mind -- I chose not to repair my i-Pod yet I chose to repair my Samsung laptop. Then I thought that even if I bought a more expensive Samsung item -- repairs may not cost as much as the luxury items. Talk about me paying for repairs for a Toyota over a BMW -- one costs much less than the other!
It makes me think also of why I always thought about how much money I could save getting a Samsung phone which is half the price of the latest i-Phone X. I was thinking of the principle of savings. If I decided to buy a less expensive Samsung Galaxy for a fancy phone the I could still save up to half the price in contrast to an i-Phone X. This has me thinking why some of my richer peers could get an i-Phone yet they end up choosing a Samsung as a less expensive substitute.
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