CA Aspirant|Content ...Ā ā¢Ā 2m
ššš«šššØš± šØš šš”šØš¢ššš¬=ššØš¬š¢š§š š²šØš®š« šš®š¬ššØš¦šš«š¬ Imagine you want to order food or watch a movie in a platform you like. Once you open to surf through what is available you are bombarded with too many options. You spend hours and hours but couldn't arrive at one option to choose. This phenomena is called the paradox of choices which explains that š When there are more options to choose š It requires huge efforts for consumers to make a choice š Which may cause dissatisfaction over the choices they have made and decision fatigue. When consumers are affected due to this phenomena they end up not buying any product that you may offer. Unhappy customers are a no-no for those who want to achieve profitability. If our customer is unhappy: Our sales š our competitor sales š. What do you need to do? š Offer limited models in the products you offer. š Provide categories such as best seller,top picks etc. š Track your customer behaviour based on his previous purchases. š Provide assistance to customers who have distinct preferences. š Provide "Recommended options" for "it's my first time" type of customers. š Make the decision process smoother by indicating the purpose of your products clearly. Example : Medial has many features to utilise but you have to pay a price for that. They classified their features into premium, premium plus and premium jobs.Thus making it easy for mediallers to understand what they are being offered. Netflix added features like āTop Picksā and āPlay Somethingā to guide choices. Sun-tzu said to confuse your enemy you need to confuse yourself. But your customers are not enemies,so don't confuse yourselves and them as wellššš» Follow Anirudh Gupta for more such posts.
Will become a inspir...Ā ā¢Ā 1m
āLess Is More: How the Paradox of Choice Drives Smarter Business Decisionsā The Paradox of Choice is a psychological principle where offering too many options can overwhelm customers, leading to decision paralysis or dissatisfaction. While variety s
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ā IF, "You get an urgent call: A defect was found in the latest batch of products and customers are already using it!". š§ You have only 3 options - š What would you choose? #startup #business #marketing #startupideas #entrepreneurship #decisio
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ā Ā IF,Ā "You are scrolling on your phone, you are shocked to see a competitor stealing your product idea. The competitor just copied your product with the same features, lower price." š You have only 3 options, š comment your answer To Read Full v
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ā IF, "You are watching a negative viral post about your brand and Your brand just went viral for the wrong reasons!" š You have only 3 options, what would you choose? šcomment your answers #startup #business #startuplife #entrepreneurship
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ā Your team is scattered around the world and you are thinking of getting a central office but also worried about overheads". š You have only 2 options, what would you choose? šcomment your answer #startup #business #startuplife #entrepreneu
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š¤¦19 Startup lessons that I wish I knew in January 2024š šSpend money to save time but not time to save money šSolve Problems for rich people but not broke people šSell before you build anything šYou don't manage time, you manage energy šS
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