3 ms·
"plus there's no urgency to buy the item now" Exactly. One of the most important concepts out there is urgency to buy. One of the reasons car dealers can't se
by larrys 14y ago
"plus there's no urgency to buy the item now"
Exactly. One of the most important concepts out there is urgency to buy. One of the reasons car dealers can't sell at fixed prices. They can't create artificial urgency as easily by making the deal "only good today". If you know you can buy the car (assuming of course no supply issues on the model you want or color features etc) in a week you don't have an impetus to get off the fence and decide.
Separately and related to this is not to make open ended offers when giving pricing if possible. Otherwise people are definitely (from my many years of experience) less likely to make a commitment. This of course varies with the product, price and other factors obviously.
There is absolutely no question that sales, coupons and discounting and specials work.
- PakG1 14y agoYou can create urgency another way. This was a really interesting summary to me. http://www.businessinsider.com/zaras-genius-business-model-2013-3 http://www.businessinsider.com/zaras-genius-business-model-2... Here are the key paragraphs: Zara's strategy involves stocking very little and updating collections often. Instead of other brands that only update once a season, Zara restocks with new designs twice a week, Suzy Hansen wrote. That strategy works two ways, according to Hansen. First, it encourages customers to come back to the store often. It also means that if the shopper wants to buy something, he or she feels that they have to purchase on the spot to guarantee it won't sell out. Obligatory XKCD on shopping patterns: http://xkcd.com/309/ http://xkcd.com/309/ :)