I have had a realization as I spend my money (hard earned?) on things like Pizzas and movies on really what keeps the world going around. Its the fact that nine out of ten people on the planet are thinking about ways to make you part with our money with our own consent.
All the wisdom throughout the ages have today ended up into a strategy which makes each and every one of us part with our moolah. One wisdom that I heard on convincing anybody was to make the person "feel" empowered. Just make him feel that he is doing the right thing or rather the smart thing.
The best form of marketing thus is to make a person believe he is a winner when in actuality the case is that he you are making him/her buy something he/her does not actually need.
Another wisdom is a theory on guilt augmentation. Whenever a person feels guilty he will "invent" reasons on why he did it. The reason may be lame but he will do it in order to sleep peacefully. So a good marketeer simply needs to give a consumer excuses to avoid guilt and he will buy whatever you sell him.
Buying in itself demands that a consumer spends two different assets- time and money. Think about it as consumers these are the only two assets that we as consumers have and nothing else. Interestingly people only want our money they don't want our time.
The traps in order of lesser to bigger evils:
All these traps make you feel smart, alleviate guilt and save time. You end up spending more and most probably on things you don't need.
Best way of saving money- Go to a bank withdraw cash and commit to not spending more than that. Food for thought.
Disclaimer: The author of the above piece is definitely never going to follow his own advice and keep wasting his much loved earnings.
My Profile http://www.blogger.com/profile/01963566572793351742
All the wisdom throughout the ages have today ended up into a strategy which makes each and every one of us part with our moolah. One wisdom that I heard on convincing anybody was to make the person "feel" empowered. Just make him feel that he is doing the right thing or rather the smart thing.
The best form of marketing thus is to make a person believe he is a winner when in actuality the case is that he you are making him/her buy something he/her does not actually need.
Another wisdom is a theory on guilt augmentation. Whenever a person feels guilty he will "invent" reasons on why he did it. The reason may be lame but he will do it in order to sleep peacefully. So a good marketeer simply needs to give a consumer excuses to avoid guilt and he will buy whatever you sell him.
Buying in itself demands that a consumer spends two different assets- time and money. Think about it as consumers these are the only two assets that we as consumers have and nothing else. Interestingly people only want our money they don't want our time.
The traps in order of lesser to bigger evils:
- The first trap laid was Debit cards- withdraw cash from ATMs anytime you want- No need to stand in queues of bank- get your cash soon and spend it soon.
- Second trap- Direct shopping through debit card- Don't withdraw cash we will do it for you and pocket it neatly.
- Third trap- Credit cards- Spend now pay later- We take your future money. Since its money in future only don't feel guilty about it now.
- Fourth trap-Online Shopping- Sit at home and while enjoying the comfort of your own making spend money on my products. Since you are not putting too much effort please go through a whole lot of useless catalogs and spend money on things you don't need
- Final trap: Reward points- Get rewarded for your shopping- I am taking your money but you should feel good because I am rewarding you (insignificantly- 0.007% of your spend)
All these traps make you feel smart, alleviate guilt and save time. You end up spending more and most probably on things you don't need.
Best way of saving money- Go to a bank withdraw cash and commit to not spending more than that. Food for thought.
Disclaimer: The author of the above piece is definitely never going to follow his own advice and keep wasting his much loved earnings.
My Profile http://www.blogger.com/profile/01963566572793351742
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