Posts
You are either earning money or spending it.You have much more power in the marketplace than you think. You, as a consumer, actually have ultimate power to decide whether or not businesses continue to exist. Based on past experiences, you may have a hard time believing that this is true. It’s easy to get the feeling that we consumers are the servants and the merchants are the masters. Personally, I believe customer service is at an all time low. There are many contributing factors but, I think this is mostly due to the fact that there are so many businesses spending very little time or resources on good training of employees. True, some business owners have simply gotten fat and happy and have lost touch with reality. They have forgotten who makes it possible for their businesses to continue to prosper. Luckily, I have found these shopkeepers are few and far between. I believe that most business owners want to provide a good buying experience from start to finish and they genuinely understand the importance of creating long-term, on-going relationships with their customers in order to stay in business.
Unfortunately, it seems something is getting lost in the translation. I fault inadequate training, the hiring of inexperienced and unmotivated employees, and a lack of clear leadership when it comes to providing a good customer experience. What you must remember is that you have a right to demand a great experience every time you shop. In addition, you have the right to demand the highest quality service and merchandise for the lowest possible price. Believe me, if you and I stopped shopping at stores that offer poor quality merchandise or bad service, and if others acted with the same commitment, merchants would have no choice but to make changes or go out of business. It has happened many times in history. Our power as consumers is limited by our willingness to take action. Most people will not act when they feel prices are too high or a product is inferior. How many times have you eaten a sub-par meal at a restaurant because you didn’t want to make a fuss? Have you ever winced when someone, maybe a spouse, brought something to the attention of a waiter or a store manager? Have you ever told a spouse not to make a big deal about something you were clearly not happy with?
COMPLAIN TO THE RIGHT PEOPLE
Often, the only action we ever take is to complain after the fact. Americans love to gripe. Prices are too high; service is terrible; quality is inferior. The problem is, the complaining is not directed at the right people. Complaining to friends and family after you leave the store will do no good. You must exercise your right to super service and low prices when you are face to face with the merchants who are really in a position to respond to the complaints and make things right. If you don’t give the merchant the opportunity to fix things, you’ll never really know if you should go back to the store.
Actually, telling a store’s owner about a problem is doing them a favor. The only way to improve something is to make someone in charge aware of a problem. If the business owner does not respond to a complaint or a request to your satisfaction, then you can make an intelligent decision about returning to the store in the future. But, if you don’t give him that chance, you are the ultimate loser in the deal. You’ve paid too much or gotten bad service and the only people who know about it are your immediate family or friends. What can they do to make you happy? They can’t get your money back for you or re-cook the meal.
How many times have you thought that the price of automobiles is ridiculously high? How can automobile manufacturers and dealers sell a vehicle for $25,000, $30,000, $40,000, or much more? For the same reason a cup of coffee now sells in most places for, like between $1.50 and $2? The gourmet coffee drinks cost as much as an entire meal used to cost not that long ago. Talk about a markup! This is a cup of flavored water selling for several dollars. The reason is clear and the blame cannot be put on the merchants for being greedy. The job of a merchant is to get the highest price possible. I’m sure you have heard the term, "what the market will bear." Cars sell for $30,000 because people are willing to pay $30,000. Cups of coffee sell for several dollars because we, "the market," agree to pay that much. I submit that the overall feeling of powerlessness in the marketplace that consumers feel is a fallacy.
If consumers took proper action when they thought they were paying too much or were receiving inferior quality or service, our true power in the marketplace would be felt. Consumers are King for one major reason. This reason is the foundation of the American Economic System: Competition. Never has competition been greater, in all industries, than it is right now. Competition among merchants for your business gives you great power and leverage. We no longer live in a world where a town has just one general store, one doctor, one cobbler, and one gas station. Unless you live in a very small town, it is virtually impossible for you not to have at least ten choices of where to buy each and every product you purchase. Not only do you have choices but, also these choices are begging you to give them a chance to serve you. This is what gives you the upper hand when it comes to demanding low prices and high quality. You can choose who gives you service. Demand what you want or find someone else who will deliver what you want. Realize you will be a shopper for the rest of your life and vow to become a smart one.
ARE YOU A SMART SHOPPER?
How do you know if you are a smart shopper? Ask yourself these questions: When I make a purchase, do I question salespeople or business owners about the price and the quality of the products I am buying? Or, do I become a silent spectator? Can I ask intelligent questions about items I am shopping for or do I just believe the sales and advertising material’s claims? Have I ever over-paid for something simply because I felt I had no choice or I didn’t want to make a fuss? An uninformed consumer normally has no choice but to believe and follow the suggestions of salespeople. Thus, the uninformed consumer is easily led down the path to paying more for virtually everything she buys.
By just overpaying one dollar a day for thirty years, you will throw away $10,950.00. Not to mention the interest on that money for thirty years that may compound your loss to in excess of $30,000 to $50,000 over that thirty-year period. The human tendency to be a creature of habit, who dislikes change, allows us to put up with inferior service and higher prices. For some people it is very awkward and inconvenient to shop at an unfamiliar store. Even if service is not quite the best or prices are just a little higher at the store you are used to shopping at, your tendency may be to stick with the tried-and-true. There are people who will travel miles out of their way, passing store after store that could sell them the same exact products, often at cheaper prices, simply because they are so comfortable at their favorite stores. Loyalty to a shopkeeper is wonderful, if the shopkeeper proves his loyalty to his customers by providing the highest quality for the lowest prices.
One of the most glaring examples of unreturned loyalty I can think of is when long-distance telephone service was deregulated and AT&T began to face hundreds of competitors offering consumers much cheaper long-distance rates. In spite of the lower rates, and no difference in quality, it took years for people to start switching away from AT&T simply because of its reputation in the industry. Even though AT&T was often charging—and to this day still charges some residential customers—double the price for the same long-distance service, people were reluctant to leave AT&T because this was the company that had always provided the service. Habit and fear of change on the part of consumers kept AT&T in the position of still owning the majority of the long-distance market even though the company charged higher prices than competitors until very recently. It is a great lesson for all business people. Build a reputation for delivering high quality service and merchandise and you can build a loyal clientele that will be willing to pay more for your services year after year. This is especially true if your clientele refuses to educate itself about your competition.
Like this article?
Unfortunately, it seems something is getting lost in the translation. I fault inadequate training, the hiring of inexperienced and unmotivated employees, and a lack of clear leadership when it comes to providing a good customer experience. What you must remember is that you have a right to demand a great experience every time you shop. In addition, you have the right to demand the highest quality service and merchandise for the lowest possible price. Believe me, if you and I stopped shopping at stores that offer poor quality merchandise or bad service, and if others acted with the same commitment, merchants would have no choice but to make changes or go out of business. It has happened many times in history. Our power as consumers is limited by our willingness to take action. Most people will not act when they feel prices are too high or a product is inferior. How many times have you eaten a sub-par meal at a restaurant because you didn’t want to make a fuss? Have you ever winced when someone, maybe a spouse, brought something to the attention of a waiter or a store manager? Have you ever told a spouse not to make a big deal about something you were clearly not happy with?
COMPLAIN TO THE RIGHT PEOPLE
Often, the only action we ever take is to complain after the fact. Americans love to gripe. Prices are too high; service is terrible; quality is inferior. The problem is, the complaining is not directed at the right people. Complaining to friends and family after you leave the store will do no good. You must exercise your right to super service and low prices when you are face to face with the merchants who are really in a position to respond to the complaints and make things right. If you don’t give the merchant the opportunity to fix things, you’ll never really know if you should go back to the store.
Actually, telling a store’s owner about a problem is doing them a favor. The only way to improve something is to make someone in charge aware of a problem. If the business owner does not respond to a complaint or a request to your satisfaction, then you can make an intelligent decision about returning to the store in the future. But, if you don’t give him that chance, you are the ultimate loser in the deal. You’ve paid too much or gotten bad service and the only people who know about it are your immediate family or friends. What can they do to make you happy? They can’t get your money back for you or re-cook the meal.
How many times have you thought that the price of automobiles is ridiculously high? How can automobile manufacturers and dealers sell a vehicle for $25,000, $30,000, $40,000, or much more? For the same reason a cup of coffee now sells in most places for, like between $1.50 and $2? The gourmet coffee drinks cost as much as an entire meal used to cost not that long ago. Talk about a markup! This is a cup of flavored water selling for several dollars. The reason is clear and the blame cannot be put on the merchants for being greedy. The job of a merchant is to get the highest price possible. I’m sure you have heard the term, "what the market will bear." Cars sell for $30,000 because people are willing to pay $30,000. Cups of coffee sell for several dollars because we, "the market," agree to pay that much. I submit that the overall feeling of powerlessness in the marketplace that consumers feel is a fallacy.
If consumers took proper action when they thought they were paying too much or were receiving inferior quality or service, our true power in the marketplace would be felt. Consumers are King for one major reason. This reason is the foundation of the American Economic System: Competition. Never has competition been greater, in all industries, than it is right now. Competition among merchants for your business gives you great power and leverage. We no longer live in a world where a town has just one general store, one doctor, one cobbler, and one gas station. Unless you live in a very small town, it is virtually impossible for you not to have at least ten choices of where to buy each and every product you purchase. Not only do you have choices but, also these choices are begging you to give them a chance to serve you. This is what gives you the upper hand when it comes to demanding low prices and high quality. You can choose who gives you service. Demand what you want or find someone else who will deliver what you want. Realize you will be a shopper for the rest of your life and vow to become a smart one.
ARE YOU A SMART SHOPPER?
How do you know if you are a smart shopper? Ask yourself these questions: When I make a purchase, do I question salespeople or business owners about the price and the quality of the products I am buying? Or, do I become a silent spectator? Can I ask intelligent questions about items I am shopping for or do I just believe the sales and advertising material’s claims? Have I ever over-paid for something simply because I felt I had no choice or I didn’t want to make a fuss? An uninformed consumer normally has no choice but to believe and follow the suggestions of salespeople. Thus, the uninformed consumer is easily led down the path to paying more for virtually everything she buys.
By just overpaying one dollar a day for thirty years, you will throw away $10,950.00. Not to mention the interest on that money for thirty years that may compound your loss to in excess of $30,000 to $50,000 over that thirty-year period. The human tendency to be a creature of habit, who dislikes change, allows us to put up with inferior service and higher prices. For some people it is very awkward and inconvenient to shop at an unfamiliar store. Even if service is not quite the best or prices are just a little higher at the store you are used to shopping at, your tendency may be to stick with the tried-and-true. There are people who will travel miles out of their way, passing store after store that could sell them the same exact products, often at cheaper prices, simply because they are so comfortable at their favorite stores. Loyalty to a shopkeeper is wonderful, if the shopkeeper proves his loyalty to his customers by providing the highest quality for the lowest prices.
One of the most glaring examples of unreturned loyalty I can think of is when long-distance telephone service was deregulated and AT&T began to face hundreds of competitors offering consumers much cheaper long-distance rates. In spite of the lower rates, and no difference in quality, it took years for people to start switching away from AT&T simply because of its reputation in the industry. Even though AT&T was often charging—and to this day still charges some residential customers—double the price for the same long-distance service, people were reluctant to leave AT&T because this was the company that had always provided the service. Habit and fear of change on the part of consumers kept AT&T in the position of still owning the majority of the long-distance market even though the company charged higher prices than competitors until very recently. It is a great lesson for all business people. Build a reputation for delivering high quality service and merchandise and you can build a loyal clientele that will be willing to pay more for your services year after year. This is especially true if your clientele refuses to educate itself about your competition.
Like this article?
Facebook
0 comments:
Post a Comment