Decision Making
I learnt an interesting piece of information recently - That 95% of all purchase decisions are made right in a retail store. I would have thought that with the proliferation of the internet, consumer guides and product comparision tools, more of the decision making would be made outside of the retail store.
This statistic establishes that human beings arent as much of a rational decision maker as is made out to be. Lets take the hypothetical case of a person buying a camera.
Previously it was thought that people did most of their research online, looked at multiple websites, consulted their friends and then made their decision as to which model they wanted to buy and then walked into the store and picked up that model.
Not true ! Apparently, 95% of people decide which model they want to buy right in the store and often the decision has no basis in rationale. The bottomline is that people buy products that appeal to them, that are attractive to them - Not necessarily the "best" products. And in fact, when the person goes into the retail store, they decide on the model they want to purchase based on the aesthetic appeal and then simply look for reasons to justify their purchase so that they can be satisfied that they made a rational purchase. (This excludes true photography geeks obviously !).
Which is why products that are extraordinary in capability, but ordinary in presentation just dont sell ! And the reverse is so often true of course ...
This statistic establishes that human beings arent as much of a rational decision maker as is made out to be. Lets take the hypothetical case of a person buying a camera.
Previously it was thought that people did most of their research online, looked at multiple websites, consulted their friends and then made their decision as to which model they wanted to buy and then walked into the store and picked up that model.
Not true ! Apparently, 95% of people decide which model they want to buy right in the store and often the decision has no basis in rationale. The bottomline is that people buy products that appeal to them, that are attractive to them - Not necessarily the "best" products. And in fact, when the person goes into the retail store, they decide on the model they want to purchase based on the aesthetic appeal and then simply look for reasons to justify their purchase so that they can be satisfied that they made a rational purchase. (This excludes true photography geeks obviously !).
Which is why products that are extraordinary in capability, but ordinary in presentation just dont sell ! And the reverse is so often true of course ...
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