Need help with my Business question – I’m studying for my class.
200 word response to the below:
After watching this video and the videos by Doctor’s Iyenger (Week One) and Schwarz (Week Two), I believe there is a lot to know about giving and not giving consumers multiple choices. Dr. Iyenger and Dr. Schwarz explain that having multiple choices as a consumer creates confusion, frustration, and less satisfaction with the product itself. Whereas Malcolm Gladwell explains that having multiple choices is a great thing for consumers because most of the time, we do not know that we do want something or that we needed to have that extra choice. Gladwell explains that people should realize that we cannot always explain what we want, deep down (Gladwell, M., 2004). I understand what Gladwell is trying to explain, however, I feel multiple choices shouldn’t be given in every aspect. Gladwell uses the example of olive oils and having multiple options but so does Dr. Iyenger, she puts the theory to the test in stores and is able to see how consumers react to having multiple choices. Consumers stick to what they know, and what they know best.
I found in both Dr. Iyengar’s and Dr. Schwartz’s statement that having multiple choices is not always a good thing, I still stand by this when listening to Malcolm Gladwell’s statement on consumers having multiple choices being a greater tactic. I go back to what Dr. Schwartz says, this produces paralysis rather than liberation. The second effect is that, even if we manage to overcome the paralysis and make a choice, we end up less satisfied with the result of the choice than we would be if we had fewer options to choose from (Schwartz, B., 2006). We may not know what we want as the consumer, but as the consumer, we also stick to what we know and as many times that we try something new, the consumer may still continue to come back to the product that he or she knows best.
Gladwell, M. (2004). Choice, happiness, and spaghetti sauce. Retrieved January 25, 2021, from https://www.ted.com/talks/malcolm_gladwell_choice_…
Schwartz, B., (2006). TEDTalks: Barry Schwartz–The Paradox of Choice [Motion picture]. TED.
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