Skip to main content

Barry Schwartz - a Seller? Or a Buyer?

The paradox of choice:

It is evident from some advanced studies in economics and population behavior, that choice and freedom have a correlation, but sometimes it can be a skewed one. For example, referring to my earlier post on choice and narrowing down on items, a difficult argument is imminent.

Here's the catch -

What Barry Schwartz has to say, is a matter of significance if you are selling anything. And as a buyer, you can really find his wisdom a savior.

Can choice ever be too much? Well, it depends on you if you are buying. However, for the seller, it is about having the greatest variety, but is that wise?

I am an intelligent buyer - because I DON'T GET FLUMMOXED BY CHOICE (I KNOW WHAT I WANT).

So, when I walk in to a jeans store, I may look for a classic fit, and be showered with a gamut of choices; but if they don't have what I want, I simply walk out. A stubborn customer? Debatable.

The seller's problem:

Every seller feels secure by stocking a great variety of goods. Why? Because popular belief is that will spark interest in almost everybody passing by or walking in. May be true. But does that let ME get what I want. Because my choice of goods could be rather unique, specific, and only for a certain purpose, or even simple, I may have a completely different outlook on the store. But here's what - I am desperately looking for something, and I have the cash.

I'm not sure of the differences between most buyers and buyers like me. However, I do know that there's nobody sane on this planet, who would spend on something, and then regret it, although the goods can be exchanged, just like in a retail store. The matter of choice is what continues to remain vital.

The matter of choice:

People who know what they want will get what they want. And if you don't have it, bad luck. If you are able to cross sell, up sell, or do any of the other things to lure somebody into a deal, it works only as long as a more caring seller is not competing with you.

A word on caring:

Caring is all about personalizing. But for whom? Customers of course. But how can you know about them in such granularity?

Well, my argument, I'm afraid is going to end up at Square One! Contact us for specific customer information. It's legal.


Comments

Popular posts from this blog

The Role of a CEO as aThought Leader
Thought leadership comes with the responsibility of processing a particular thought to making it achieve the goals that can improve the health of an enterprise. A though leader happens because the audiences, the industry and the markets recognize you as that. A proper planning and execution is required to get to the goal point estimated. How as a CEO would you want to see your company respond to new business contracts, share purchases, product purchases, technology based software purchases and legal procedures? Only you as a c-suite executive can decide on how you would guide and take guidance for some important decision-making.

Thought leadership affects a company's image
Be it a small company or a large enterprise, thought leadership can be elevated. This elevation can take place in a company catering to a small audience for mere promotions and then in its larger version using various contemporary platforms to market products and services. Th…

7 Trends in Telecommunications to Look Out For

Telecommunications through waves connects people from different corners of the world and  satisfies consumers with cost and time-effective services. After all the world is becoming following trend setting technologies, so why would the telecom industry stay behind. Following the mobile world that is becoming seamless by each passing day, there is an urge in all of us to learn about the trending characteristics of the telecom industry. So, let us run through the seven major trends of the telecommunications industry:

Small cells
Small Cells deliver data coverage with a cost-effective capacity that is accessible to both indoors and outdoors operators. Radio access nodes that are low-powered, operator-controlled, and operate in both licensed scope and unlicensed spectrum will ease mobile data coverage and consumption. Small cells networks guarantee effective and quick service in crowded locations like shopping malls, stadiums, hospitals, subways and railway stations. Small cells have witn…

Celebrating Innovation - It's time for it to work out!