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Using expert view and examples to support your points, determine the extent to which consumers are experiencing a choice overload and evaluate whether offering less product choice seems to be a successful strategy for many of todays organisations. - Essay Example

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Using expert view and examples to support your points, determine the extent to which consumers are experiencing a choice overload and evaluate whether offering less product choice seems to be a successful strategy for many of todays organisations.

Consumer decision-making is complex and subject to both rational and irrational forces. Today, consumers are getting information from a wide variety of sources due to penetration and increase in technological advancements. Consumers get information about products, brands and services on the internet. Due to a wide pool of information sources, consumers are likely to make bad decisions.
The wider the product pool, the more the likelihood of making a bad decision. Too much choice has been found to be demotivating. To investigate this, Iyengar and Lepper (2000) established a tasting booth inside a luxury food store in Menlo Park, California and invited the customers to taste their jams. The researchers rotated the jams on an hourly basis such that every time, there were six different flavours on from which to choose. On another booth, they placed 24 different flavours. The consumers who had limited assortment to choose from were ten times more likely to purchase the jam than the ones who chose from a wide range of assortment. From such findings, a notion has risen and this notion is “the paradox of choice” (Kimmel, 2012). This notion suggests that consumers have more difficulty making a choice when a marketer offers them a wide range of choices. Schwartz (2004) defined the paradox of choice as the fact that consumers in the developed countries are likely to have a broad range of choices.
Researchers associate such wide offerings with welfare and freedom. However, Shwartz (2004) argued that too much choice makes consumers feel less happy, less satisfied, and can even lead to paralysis. He argues that the more the marketer continues to increase choices, the more the consumer feels that someone has catered for his/her welfare. However, the choice can only be increased only to a certain point and beyond this point; a negative impact is experienced. Schwartz referred this contradiction as “the paradox of choice.” ...
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Summary

Due to this expansion, consumers are expected to navigate the consumer landscape and use their rational decision-making skills and…
Author : travon07
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