Inventory: How Did Consumers Like "Single Product Explosion" Succeed?

When we talk about how to please consumers, most people can blurt out the saying: "improving the interests of consumers and reducing the cost of consumers" - if consumers can buy better things at lower cost, they will naturally choose your products.

Why do many companies rely on "

"Success?

Many companies feel that "more is better" and provide consumers with numerous choices.

They find what is the best choice when developing products, and find it difficult to decide at the end.

So finally, the "hard decision" was left to its consumers, thus creating complex product lines and colorful colors.

The companies also think it "gives consumers freedom", and in fact it just deprives them of their brains and makes the process of choosing a "painful process".

There is such a psychological experiment:

The researchers set out a series of expensive jam and provided consumers with trial opportunities, while giving each person a discount coupon so that they could buy jam at below market prices.

The experiment is divided into 2 groups, one group has 6 jam, the other group has 24 jam, all can be purchased arbitrarily.

Finally, the researchers found that among the 6 groups of jam, 30% of consumers tried to buy it, while only 24 of the 24 groups offered a choice.

Why?

Because fewer choices mean lower decision-making costs.

In the 6 jam group, consumers only need to compare 6 tastes and quickly make decisions through the exclusion method to decide which one they want to buy.

But in the 24 jam group, consumers always thought, "is the next item better than this one?"

They always want to make the best decision, and they consume a lot of brain energy before they finish the 24 jam.

Finally, out of the need to save energy, they simply gave up buying.

For these consumers, the pain of making decisions is more than the "good mood" that shoppers can buy.

Moreover, too many options make the last selected product less attractive. We always wonder if the one that we haven't chosen is better, which makes us more and more skeptical about our decision, or even the final return.

In the past, we put "

"Simply equals" price ", but in fact, the cost of buying a product is far more than that of consumers.

In order to use a product, the cost of the consumer can be: a sum of money (price), a decision (carefully comparing all kinds of goods), paying for buying behavior (running to buy or running to get express, etc.), and learning (learning how to use).

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These consumer costs correspond to product attributes: price, convenience, convenience and ease of use.

These product attributes correspond to marketing strategies: reducing sales promotion, reducing categories, and channel strategies (such as opening stores offline, online logistics, payment systems, etc.) and improving usability.

In the past business strategy, we have been advocating "price is king" and "channel is king". Recently, we have been saying "improving usability through interaction design", but few enterprises really reduce the "choice cost" of consumers.

So how to reduce the consumer's choice cost?

At least there are:

1, reduce your choice and limit your customers.

A large number of studies have proved that if the choices faced by consumers need to be weighed and determined, and the options conflict with each other (A will not be selected by B), then all options are available.

Will be significantly reduced.

2, tell consumers directly what you should do.

Even if something should have been decided by the other party, you need to provide an indication to reduce the cost of others' choice.

A "clear directive" allows others to reduce the cost of choice, so that they can do something without scruple.

3, don't be obsessed with unreliable market research.

People often overestimate their demand for "differentiation". Consumers tend to think that they always like trendy products and different tastes, but such forecasts are often inaccurate, and can not be credulous as marketers.

4, provide only one "best choice".

Consumers often choose the best in one category.

But if you offer several of the best at the same time, it will make them very simple purchase behavior so complex and trade-offs.

In the process of balancing, their interest gradually disappeared.

5, customizing consumer demand.

The needs of consumers are varied, but this does not mean that you need to keep all the selection processes to consumers, because what they really need is "the result of choice" rather than the "process of choice".