What Really Influences Customers In The Age Of Nearly Perfect Information

In the age of nearly perfect information, customers are more empowered than ever before. They can research products and services online, compare prices, and read reviews from other customers. This has made it more difficult for businesses to attract and retain customers.

Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information

by Itamar Simonson

4.1 out of 5

Language	:	English
File size	:	447 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	256 pages

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So, what really influences customers in the age of nearly perfect information? Here are a few key factors:

1. Price

Price is always a key factor in customer decision-making. Customers want to get the best possible value for their money. However, price is not the only factor that customers consider. They also consider factors such as quality, brand, and customer service.

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2. Quality

Customers want to buy products and services that are well-made and durable. They are willing to pay more for quality, but they also want to be sure that they are getting what they pay for.

3. Brand

Brand is a powerful force in customer decision-making. Customers are more likely to buy products and services from brands that they know and trust. Brands that have a strong reputation for quality, customer service, and innovation are more likely to attract and retain customers.

4. Customer service

Customer service is an important factor in customer decision-making. Customers want to be treated with respect and courtesy. They want to feel like they are valued and that their needs are being met. Businesses that provide excellent customer service are more likely to attract and retain customers.

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5. Psychology

Psychology plays a significant role in customer decision-making. Customers are influenced by their emotions, needs, and motivations. Businesses that understand the psychology of their customers can better target their marketing and sales efforts.

Here are a few psychological factors that influence customer decision-making:

• Loss aversion: Customers are more likely to avoid losses than to seek gains. This means that they are more likely to be influenced by negative information, such as negative reviews, than by positive information.
• Social proof: Customers are more likely to trust the opinions of others. This means that they are more likely to buy products and services that have been endorsed by other customers.
• Scarcity: Customers are more likely to want something if it is scarce. This means that businesses can create a sense of urgency by limiting the availability of their products and services.

By understanding the factors that influence customer decision-making, businesses can better target their marketing and sales efforts. This can help them attract and retain more customers in the age of nearly perfect information.

Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information

by Itamar Simonson

4.1 out of 5

Language	:	English
File size	:	447 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	256 pages

FREE