Reflections of a BizDrivenLife

A Technology Entrepreneur Shares his tips on how to win in Business… and in Life!

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The Challenge of Providing Choice

July 20th, 2007 by Administrator
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As a Business, we have a couple of retail stores.  Can you increase your sales by providing more choice or less?

According to a study conducted in the supermarket of California, two professors, Dr. sheena Iyengar of Columbia University and Dr. Mark Lepper of Stanford University , they had a simulation in which there were two stores.  One store had 6 different brands of flavored jam, while another had 24 different brands.

The passerby was monitored, and then studied.  The larger display, with 24 brands attracted 60 percent of the people, while the 6 brands attracted only 40 percent.

HOWEVER, only 3 percent of the people who visited the larger display bought, while 30 percent of those visiting the smaller display bought.

That would seemingly indicate that ten times more people visiting the smaller display bought.  This purportedly means that giving too much choice to the customer will lead to inaction.

We should give choice, but increasingly consumers are relying on your rrand and your choice to limit it for them.

 

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Posted in FrontPage, on Business | 1 Comment »

Dream Team

July 20th, 2007 by Administrator
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I attended a tech conference, and I thought the slogan was really nice.  It was basically a call to partnership with their channels and resellers.

” One Dream.  One Team.  One Dream Team.”   Cool!

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