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Please write one page double space article review discussion. And then two 75-100 words comments on each discussion I gave.
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Is having so many products options available to us making our lives better or just
causing us anxiety and confusion in our lives? Barry Schwartz: The paradox of choice |
TED Talk – TED.com
1) https://www.ted.com/talks/barry_schwartz_on_the_paradox_of_choice?language=en
Is having so many product options available to us making our lives better or just causing
us to have confusion and anxiety in our lives?
After watching the Paradox- of – Choice video, compare too many to this chain. Which
is better?
2)ALDI https://edition.cnn.com/interactive/2019/05/business/aldi-walmart-low-foodprices/index.html
Please provide your opinion regarding the topic of “do we need so many choices” citing
either of the two video’s.
Make comments on the following discussions (70-100 words)
1. While Barry Schwartz mainly highlights the downsides of having too many options,
as we have learned from our textbook readings, there are several benefits to having
many available choices. Additionally, businesses frequently diversify their product
offerings to appeal to a broader customer base. These options are a way that
businesses hope to add customer value and satisfaction and are also a strategy
utilized to widen business portfolios. This desire to provide more options to cater
towards customers’ varying tastes is the reason why food companies have
developed products to recognize health-conscious consumers by offering a
“reduced fat” version of products like Wheat Thins and Oreos. On the other hand, as
the marketing environment becomes oversaturated, it grows more and more difficult
for businesses to break through the chaos to retain, regain, and convert new
customers. As Schwartz mentions, having a plethora of choices can translate into a
decrease in consumer utility (happiness) as a more laborious purchasing process
can result in frustration and dissatisfaction. Thus, stores like Aldi’s and Trader Joes
have adapted to promote their private label brands, which not only provides low
prices and convenience, but also gives them a competitive advantage as retailers
control what products they stock, where they go on the shelf, price, local
promotions. When I went food shopping at Whole Foods this week I wanted to buy
peanut butter and was met with a whole section of nut butters of different flavors and
varieties. Not only was it overwhelming to have to do a price and product
comparison of all the products, but I also did not end up finding what I wanted. I
wasted my time and had to go to another store. On the one hand, I am satisfied with
my final purchase, but on the other hand, it took me a longer to find the desired
product and having so many options made the decision-making process
complicated and long-winded.
2. I don’t think the more kinds of products we need, the better. Variety of products will
bring a lot of unexpected surprises to our life. As mentioned in Ted talk that “The more
choice people have, the more freedom they have, and the more freedom they have, the
more welfare they have.” If we have more choices, we will fully compare various
products and select the most suitable products for us. However, each of us has different
preferences, so the sales volume of different products will be different. At the same
time, from the perspective of consumers, if we have too many choices, we may have a
choice phobia, because sometimes it is difficult to choose between them. Choice phobia
has the potential to influence our buying behavior, which means that if there are only a
few choices of products we need, then we will buy the right one. But the more choices
we have, the less likely we are to buy. Choice phobia can make us feel anxious and
insecure, so such product diversity can directly market sales volume and consumers’
shopping experience.
Meanwhile, for a company or store, if there are too many product categories
marketed by a chain, it will bring great economic cost to the company or chain. Just as
mentioned in the article that “Pressures are so intense that regional chains like
Southeastern Grocers, the owner of Winn-Dixie and Bi-Lo, filed for bankruptcy. ”
Therefore, I think chain stores should choose the types of products suitable for their
own regions, rather than the more products, the better. The types of goods selected by
chain stores can be judged according to the sales volume of the products, and some
emergency products should also be provided.

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