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It’s minmax - at what point do you hit optimal balance between consumer contentment and cheapness of goods, and thereby maximise your revenue? The answer is by
by madaxe_again 4y ago
It’s minmax - at what point do you hit optimal balance between consumer contentment and cheapness of goods, and thereby maximise your revenue?
The answer is by deceiving the consumer. The only variable is by what degree, and in some categories, the degree can be egregious. In others, it’s smaller (“100% juice!”, “full self driving”, “unlimited data!”).
This is why I say it’s what consumers want - as the market demonstrates it to be so, otherwise this would not exist.
It’s the same in politics. How much can you get away with before they squeak? Turns out, an awful lot.
- TeMPOraL 4y agoYou switched from "what consumers want" to "get away with" in the last paragraph. But those two phrases are not synonymous. Consumers "getting what they want" implies their actual preferences are being fulfilled. But they're not. Instead of getting what they want, the consumers get worst possible things the sellers can get away with ("what the market can bear", I guess) - and they can get away with quite a lot, thanks to deception you mention. My objection is with saying consumers "get what they want", because it has opposite connotations to what really happens.