I only pay a premium for QUALITY and almost never for brand unless I'm building along a specific thematic line where brand is critical to the execution and final product.
Brand and Quality are mutually exclusive. There are many examples where businesses leverage their brand to charge higher prices for like quality, or worse, keep prices the same while subtly reducing the quality because their brand can support higher prices.
My general procurement decision tree is pretty simple.
(A) Is the part proprietary? [ Yes / No ]
- If No, find a suitable alternative of equal quality/grade at less cost.
- If Yes, go to (B).
(B) Is the part manufactured by the brand? [ Yes / No ]
- If No, find the manufacturer / supplier and go to (C)
- If Yes, buy the part at the least cost possible.
(C) Does the manufacturing subcontractor / supplier sell the part under their own brand or is allowed to sell a generic equivalent? [ Yes / No ]
- If No, go to (B) and purchase.
- If Yes, is the part less expensive than (B)? [ Yes / No ]
(D) - If B > C, buy the part from (C)
- If C > B, buy the part from (B)
And NEVER be afraid to ask, "Hey, are there any sales in the near future or discounts available?"
You would be surprised how much money people leave on the table over time by not asking this very simple 3 second question. It has become habit for me.