Wednesday 8 December 2004
Consumer Remorse
Today, one of my colleagues brought in his brand new mobile phone. Now as usual, there's a fuss made over the functions and features of the phone:
"Does it have Bluetooth?"
"How good is the camera?"
"Does it sync Outlook and calendar?"
As the others continued drooling, my thoughts drifted back to the concept of consumer remorse (which was introduced to me late one night during coffee, deep into a Wednesday night). Given the vast array of choices, consumers literally get inundated with all the different options available. Upon purchasing an item, the purchase is scrutinised by the owner. To their dismay the owner discovers that a new/better fandangled model has hit the market place and the purchaser ends up regretting their choice. Therefore, their utility (or satisfaction level) is actually negative as a result of their expenditure...so there goes the concept of retail therapy! That's a great reason not to buy anything. I think I am conscious of this fact and that has stopped me making a big purchase - like a car for example, because I know that a new model will soon supercede the older one (and let's face it - it's only a matter of time, really).
Interestingly enough, a couple of weeks back, upon travelling to the city and getting caught in traffic, I decided to float the consumer remorse theory past some colleagues (as a bit of a conversation starter to cure the morning boredom).
As soon as I mentioned it, everyone laughed in agreement and then someone exclaimed, "Oh that applies to relationships as well. Some people regret their decision, after they have already committed to someone else".
This startled me somewhat, as I did not expect nor intended it to turn into a relationship discussion. They relayed stories about their friends who regretted a particular relationship after entering into one.
"But isn't it about being happy?" I enquired.
"How can you be happy if you know that there is someone else out there?" came the response.
"Some people get into relationships hastily, just for the sake of not being alone, " someone added.
Do we cling onto our current model and wait for a new model to come along and make the one we have obsolete? Surely not!
"Yep. I know people who are like that - that's just weak," chimed another.
Armed with this knowledge, if I knew that I was:
- entering into a transaction which I knew I was going to regret later and/or
- that I am merely waiting for something better to come along
I will seriously question my utility derived from jumping in now.
Why not wait for something I really like and therefore I know I will be happy? At the end of the day all I want is something I'll be really happy with for a long time.
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3 comments:
Hey Giz!
Thanks for the postings. I'm still amazed that you chanced upon this rather unpublicized blog of mine, and you actually thought it sounded like me! You’re going to have to explain that to me sometime…
With regards to your comments:
Yes - it is rather weird to draw comparisons from unrelated topics. Not sure why that is the case – I’ll spend some time thinking about that…(and probably come up with more comparisons in the meantime!)
I am a believer in balance. The hard part is finding a happy medium between holding out and jumping headfirst. Am I sure what I really like? Typically, I would like to think I do. You rightly mentioned that there a lot of factors to consider – all these will go into decision making process and help form the final opinion/decision.
With regards to "clownikin" one aspect is to represent a side of us which is clown-like, which makes people laugh and have fun! The "small" definition comes from the idea that it is merely one face and that we have many more dimensions, so it is only a fraction of who we are.
No need to be so amazed Sime, I linked your blog on my blog, so maybe that's where Giz got it when he was bloggie surfing.
I remember having this discussion with you a little while ago about consumer remorse and relationships. This is akin to the $800 TV vs $1000 TV theory that some of the other dudes were milking a few weeks ago.
Do you want to know my answer to that line you wrote - "Why not wait for something I really like and therefore I know I will be happy?"...??? Because in that case you're always going to be waiting for the 'next best thing' and you're always going to be holding out for something better...and waiting...and waiting whilst you miss out on the good stuff in front of your eyes. You're always going to be all talk and no action and think think think until your brains explode but no jumping. It's smart to look before you leap, but there's a fine line between excessively risk-averse and being cautious. Sometimes you just don't know until you jump in headfirst.
Thinking too much is one of the biggest problems to constructive actions. How many opportunities that potentially could've blossumed into something fruitful have you missed whilst you sat there and thought about it?
Giz: Haha – your are good at detecting mannerisms then. I find it hard to keep track of who’s who! I think mannerisms do give people away and perhaps your attention to detail allows you to keep track of that.
With regards to your comments around redundancy, I would have to say that different people have different viewpoints and take different actions. My point was that some people have the concept of "redundancy" in the back of their minds – sad, but true. If I knew that it was the case for me, then I would definitely think long and hard about forging ahead. It is these factors which I will consider in the decision making process.
Comparisons are precisely that: comparisons, whether they are similarities or differences. So being able to understand both is important.
Becks: I was almost certain that you would say something along those lines. It is a fine line between acting quickly and reckless. Knowing where that line lies is tricky - it is more likely an art than a science (and I somehow reckon I did not excel in art and have a bias towards science!). However, my point is that if one knows that the other person is not really what they are looking for, perhaps it is worth questioning. Sure, one may not get hurt, but consideration needs to be given to the other person as well.
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