Why Do We Pay Hundreds for Shades that Cost $3 to Make?
June 22, 2009 10:59 a.m.
Would you pay $300 for a product that costs $3 to make? Chances are, you already have. It turns out that those stylish designer sunglasses you paid hundreds of dollars for are actually made in factories in China for a fraction of the cost. We speak to Marketing Professor Dr. Lois Bitner Olson about what makes sunglasses a unique product, and why we are willing to pay so much money for something that is so cheap to make.