CA Aspirant|Content ...ย โขย 7m
๐๐๐ซ๐๐๐จ๐ฑ ๐จ๐ ๐๐ก๐จ๐ข๐๐๐ฌ=๐๐จ๐ฌ๐ข๐ง๐ ๐ฒ๐จ๐ฎ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐๐ซ๐ฌ 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 ๐ When there are more options to choose ๐ It requires huge efforts for consumers to make a choice ๐ 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 ๐ our competitor sales ๐. What do you need to do? ๐ Offer limited models in the products you offer. ๐ Provide categories such as best seller,top picks etc. ๐ Track your customer behaviour based on his previous purchases. ๐ Provide assistance to customers who have distinct preferences. ๐ Provide "Recommended options" for "it's my first time" type of customers. ๐ 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 โTop Picksโ and โPlay Somethingโ 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 well๐๐๐ป Follow Anirudh Gupta for more such posts.



Will become a inspir...ย โขย 6m
โLess Is More: How the Paradox of Choice Drives Smarter Business Decisionsโ 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
See MoreFounder startupsunio...ย โขย 7m
โ IF, "You get an urgent call: A defect was found in the latest batch of products and customers are already using it!". ๐ง You have only 3 options - ๐ What would you choose? #startup #business #marketing #startupideas #entrepreneurship #decisio
See MoreFounder startupsunio...ย โขย 7m
โ ย IF,ย "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." ๐ You have only 3 options, ๐ comment your answer To Read Full v
See MoreFounder startupsunio...ย โขย 7m
โ IF, "You are watching a negative viral post about your brand and Your brand just went viral for the wrong reasons!" ๐ You have only 3 options, what would you choose? ๐comment your answers #startup #business #startuplife #entrepreneurship
Founder startupsunio...ย โขย 7m
โ Your team is scattered around the world and you are thinking of getting a central office but also worried about overheads". ๐ You have only 2 options, what would you choose? ๐comment your answer #startup #business #startuplife #entrepreneu
See MoreBusy in creating typ...ย โขย 11m
๐คฆ19 Startup lessons that I wish I knew in January 2024๐ ๐Spend money to save time but not time to save money ๐Solve Problems for rich people but not broke people ๐Sell before you build anything ๐You don't manage time, you manage energy ๐S
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