The Price Conundrum: Why Hide the Cost?

Posted on Mon 21 March 2022 in Marketing • Tagged with rants

It's a scenario that keeps playing out on the internet: I stumble upon a website that eagerly extols the virtues of a product, detailing all its wonderful features, but when it comes to the price, it's nowhere to be found. In some cases, I'm even required to fill out a form just to get a glimpse of the price tag.


Honestly, it makes me want to shake my head in disbelief. What on earth were these website owners thinking? They've invested time and money in advertising and marketing. They've meticulously researched and planned their strategies to lure me into their online store. They've passionately explained all the benefits and made a convincing case for why I need their product right now, today.


And then, they hesitate to close the deal by not revealing the price. It leaves me with only two possible conclusions. Either their product is priced so exorbitantly high that I wouldn't consider purchasing it, or they believe their product is so unique and unrivaled that there's simply nothing comparable or competitive with an online price tag.


But here's a reality check for them – they might be entirely mistaken. By keeping the price under wraps, they risk losing out on potential sales.


I once received some valuable sales training at Home Depot from a fellow who excelled at selling custom kitchens. It was one of those hands-on, one-on-one sessions that you wish happened more often. Although I can't recall his name, I vividly remember his parting advice after the generic presentation. He emphasized that the final two steps in every successful sale were to inform the customer of the price and then simply stop talking.


That, according to him, was the key to his remarkable success. He would walk customers through all the benefits, customize the kitchen to …

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Heard It Again: A Closer Look

Posted on Thu 16 December 2021 in Economics • Tagged with rants

Once again, I came across the statement: "The U.S. has 4% of the world’s population and consumes 25% of the world’s power." This time, it was on the NBC Evening news, and as usual, the reporter didn't delve into the reasoning behind this comparison. What could these two seemingly unrelated facts possibly have in common?


At first glance, this statement might appear to carry some weight. How could only 4% of the world's population be responsible for a quarter of global power consumption? To make sense of this, we should consider production as a crucial factor.


Gross Domestic Product (GDP) is one of the best measures for comparing countries or populations. According to the International Monetary Fund, the global GDP in 2006 amounted to $48,245,198,000,000, while the U.S. GDP was $13,194,700,000,000. Interestingly, the U.S. GDP represents approximately 27% of the world's GDP, closely aligning with the 25% figure for U.S. power consumption in relation to the world's total.


This coincidence suggests that the U.S. power consumption isn't necessarily disproportionate when considering its economic output in the global context. So, while the statistic may sound striking at first, a deeper examination reveals a more reasonable correlation between power consumption and economic activity on a global scale.

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Consumer Protection: Balancing Regulation and Responsibility

Posted on Mon 06 December 2021 in The Good Fight • Tagged with energy, motion, politics, rants

In a recent political discussion about libertarianism, an interesting argument emerged, shedding light on the delicate balance between consumer protection and individual responsibility.


The scenario presented involved a laptop spontaneously catching fire, resulting in the loss of a year's worth of work product. The consumer, in this case, was promised a mere $1000 to replace the laptop. Seeking legal recourse, they discovered that pursuing a claim for the lost work product could cost around $35,000 and take up to five years. This situation raised a critical question: should regulations be in place to safeguard consumers in such instances?


One perspective argued that the consumer in question had acted recklessly by storing millions of dollars' worth of valuable information on a single device without any backups. Regardless of the laptop's battery quality, the risk of losing such invaluable data was far too great. Responsible data management includes immediate backups, which can be effortlessly facilitated by today's wireless technology, thereby mitigating the risk.


The counterargument emphasized that no regulation could have entirely protected this particular consumer. Various unforeseen circumstances, such as hard drive crashes, theft, or accidents, could have resulted in the same loss of data. Therefore, imposing excessive regulations to absolve individuals of the need to exercise data consciousness would be an inefficient allocation of resources.


This discussion underscores the importance of finding a balance between consumer protection measures and personal responsibility. While regulations play a role in ensuring fair treatment and safety, individuals also bear a responsibility to safeguard their interests, particularly in an increasingly digital and interconnected world.

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