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Managing Choice

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CONTRIBUTORS:
  Author Conte, Vincent A. (Hofstra University)
JOURNAL:
  Chief Executive Magazine, 31(6), 58 - 60.
YEAR: 2005
PUB TYPE: Journal Article
SUBJECT(S): Consumer Behavior; Lifestyle; Consumerism of emerging economies; Business Psychology
DISCIPLINE: Business/Management
HTTP: http://www.chiefexe.com
LANGUAGE: Korean
PUB ID: 103-416-120 (Last edited on 2005/09/22 04:00:13 GMT-6)
SPONSOR(S):
 
ABSTRACT:
Research raises a question about how much choice can actually impact consumer behavior. Findings by Prof. Barry Schwartz and others may be raising a red flag on how excessive choice may actually be scaring consumers from making buy decisions, thus lowering the probability of a sale. Do we really need 30 different kinds of blue jeans? As countries like Korea begin to offer consumers more and more choice, businesses need to learn more about the reaction of buyers to this phenomenon and also need to adjust market strategies to avoid buyer "meltdown." A case is used to illustrate the impact of this problem on the author's own buying behavior.
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