Choices, choices, and more choices. That's a current day for a current person in any part of the world. Since we wake up until we come back to bed, thousands of choices are flooding us obligating us to decide whether to take one option or another. As a result of that, paradoxially, people usually experiment paralysis, insatisfaction and self-blame. Does it really make sense? How can be freedom and choices the reason of such negative effects in our lives?
Thinking it over, what I feel is that the power of freedom consist on deciding wether we want to decide between many different options or just not. When applying this knowledge in marketing, there's lots of examples that make us understand my words.
For example, in Spain, the current most succesful supermarket Chain has dealt with a product range strategy that differenciate from others and seems to be paradoxal at the same time: its strategy consist on having the least brands as possible of every kind of product, what normaly means just having its own brand (white label) and the most succesful brand of each product. Actually, getting there means having less product brands than in others supermarkets, but for those who decide going there, it's supposed that they've already decided not to have so much options in exchange for other advantages. In fact, these supermarket chain is deciding for the consumer the supposed best range of products that are in the market. Then, the customer's confidence play a substantial role when deciding wheter to go to an hipermarket and decide between thousands of options or just going to this supermarket and deciding between some options already chosen for us in advance. What are they really doing? They're deciding for us, and we love that when we have de freedom to chose whether if we want some decisions done or not.
Obviusly, choices have to be in the world as freedom is a part of our lives, but people also will want to chose having less options, while also means chosing. The work of marketers, then, is to find out what should be the options and the number of options that make us feel we are deciding at a time that make us easier the chore of deciding.
Thinking it over, what I feel is that the power of freedom consist on deciding wether we want to decide between many different options or just not. When applying this knowledge in marketing, there's lots of examples that make us understand my words.
For example, in Spain, the current most succesful supermarket Chain has dealt with a product range strategy that differenciate from others and seems to be paradoxal at the same time: its strategy consist on having the least brands as possible of every kind of product, what normaly means just having its own brand (white label) and the most succesful brand of each product. Actually, getting there means having less product brands than in others supermarkets, but for those who decide going there, it's supposed that they've already decided not to have so much options in exchange for other advantages. In fact, these supermarket chain is deciding for the consumer the supposed best range of products that are in the market. Then, the customer's confidence play a substantial role when deciding wheter to go to an hipermarket and decide between thousands of options or just going to this supermarket and deciding between some options already chosen for us in advance. What are they really doing? They're deciding for us, and we love that when we have de freedom to chose whether if we want some decisions done or not.
Obviusly, choices have to be in the world as freedom is a part of our lives, but people also will want to chose having less options, while also means chosing. The work of marketers, then, is to find out what should be the options and the number of options that make us feel we are deciding at a time that make us easier the chore of deciding.
Laura -A little piece of advice about the blog, the length is not long enough according to Professor Walls' requirement - "somewhere around 1 page, single-spaced typed in a Word document using Times New Roman, 12-point font is a good minimum guideline." So you have to keep it slightly longer.
ResponderEliminarLaura - yes, the length is a problem here. I do want to say that you do better job on this one, though, of incorporating the podcast and that example is interesting (although I am curious about the name of the store).
ResponderEliminar