Dealing With Risk Aversion

Jeane Level 1

November 1, 2018, 3:21 am

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Dealing With Risk Aversion

All ads are supposed to entice people to buy something. Those who make these ads know people won't just buy a product because they've seen it on a TV or in a newspaper. Implied satisfaction after someone buys what they are selling is what they always try to nail.

All businessmen can use this "trick." It is not manipulation per se but since skeptics need evidence that will convince them to buy something, you have to provide it. Honest, objective reviews (of products or services) and testimonials of people who've bought what you are selling are enough to win them over.

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jaymish

jaymish

Internet has changed the way people buy products. Ads are still important but I don't think they determine the final decision.I their role is to basically to attract. customer to the product. The real convincing is done by product reviews. Very few people purchase anything especially online without looking at reviews both positive and negative and making a decision from there.

6 years ago

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iambeth

iambeth

Some reviews are fake and are not from actual buyers so consumers should really be careful in believing such claims before deciding to buy products online. Some advertisements are just so good that you can't help but be persuaded to buy what they are selling.

6 years ago

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Youngshark

Youngshark

I think that should know and look for teh reliable sites which review the products they are interested in. There are sites which are known to offer honest reviews and rarely have fake contributions.

6 years ago

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jayjaydimson

jayjaydimson

Thank you for that information, I didn't know about that, I think I will consider it in the near future.

6 years ago

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jaybee19

jaybee19

Exactly. A lot of sellers create fake accounts to give fake reviews. Fortunately, I have come across an online shopping store where non-buyers can't give reviews to any product. The store is called Shopee and I guess it's only available in South East Asia but I may be wrong. The good thing about Shopee is that only customers who have ordered something can give reviews to the products they've bought and they could only do that after they've received their orders. It's also very difficult to make fake accounts because the website is very strict.

6 years ago

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menchuuy58

menchuuy58

Thanks for this warning. I hope that everyone will be aware of this. Not every review is true.

6 years ago

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Jeane

Jeane

There are ways one can tell if a review is fake or not. Sure you won't be 100% sure but since many fake reviews are written by people who haven't used the product or service they are reviewing, a lack of details about the product is the first red flag. Second thing would be the reviewer gushing about how good the product or service is. Over-enthusiasm often tends to expose that review as fake.

6 years ago

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menchuuy58

menchuuy58

Word of mouth from satisfied customers is very powerful. This is just like good or highest review. Just improve on your products and services.

6 years ago

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anyone01

anyone01

I agree with you word of mouth remains essential when it comes to advertising and marketing. Word of mouth advertising can be as easy and easy as making it smooth for clients to write down and share product opinions or re-evaluating your social media method to pick out influencers. Strategies that make it smooth for word of mouth to begin and spread.

6 years ago

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Youngshark

Youngshark

Yeaah when someone says that they have used a product and it was great then there is some level of trust which is developed. Buying then becomes very easy as compares to the situations where such critics have not rendered their verdict.

6 years ago

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Jeane

Jeane

Certainly something one should keep in mind each time they sell anything to someone. If it is a service and the buyer is impressed, when someone they know needs something similar they'll refer this person to you.

Same applies to the products you sell. The higher their quality, the satisfied buyers will tell their friends about you and that translates to more sales for you.

6 years ago

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jaybee19

jaybee19

True. Advertisements nowadays are just made to attract unlike on the past decades where it's the only way to introduce the products and services of every company. I have actually observed that some advertisements nowadays aren't made with too much creativity anymore and some are unlike in the past where everything is highly budgeted. Some brands doesn't even use TV and Film stars anymore but instead social media influencers and Youtube vloggers which is definitely a good choice because they don't have to pay a lot on talent fee. True enough, the internet has changed the game in the advertising industry. Customers are becoming more intelligent and meticulous and companies should keep up with it or else they'll fail.

6 years ago

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Youngshark

Youngshark

This point deserves some claps. The advertisements do the enticing and leave the reviews to really convince a customer whether the product is worth it or not. I have gone through numerous reviews before I can accept to buy anything recently.

6 years ago

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Jeane

Jeane

I've heard that consumers now love video reviews.

It can be very hard to convince someone who has bought something from you to post a video review of the product they bought but if you can manage it, go for it. Seeing a satisfied customer talk about something they bought can persuade those who hadn't made up their minds to buy that product because they have proof that the product actually does what it is supposed to.

6 years ago

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jayjaydimson

jayjaydimson

Yes, definitely. Ads can change customers mind, from buying or not buying. If the ads have been removed on a product, that product will become infamous.

6 years ago

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stbrians

stbrians

Product reviews are a powerful tool. Ads, as you say, just draw people to the product. Some views are bias

6 years ago

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Alymae

Alymae

I am definitely one of these people. I don't buy unless I see the positive ratings and reviews of the client. It is wise to do this first before purchasing. There might also be chances that the owner pays some people to give positive reviews. So, buyers should be very careful and should make sure to read all reviews regarding the products. Chances are, there are reviews that are true mixed with the untrue reviews.

6 years ago

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ajahcuizon

ajahcuizon

I agree. I, personally, seek first some reviews about the product that I am planning to buy. Better be sure than never right? Anyways, it would be hard if you would need to return the product just because you thought you'd like it but you didn't.

6 years ago

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Kakashi2020

Kakashi2020

I tend to agree that there are more factors in getting a sale, such as positive customer reviews, word of mouth and write-ups, all these coupled with good advertising material would ultimately result to good sales.

6 years ago

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Martinsx1

Martinsx1

The problem with some reviews is that some products and services owners pay for certain reviews to be made on their products and services behalf which makes a mess of the whole process.

I read online where one customer wasn't pleased with using a product she read some positive reviews online by some said users of the product.

6 years ago

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jaybee19

jaybee19

True. One example is some brands who send freebies to vloggers on YouTube as sponsorship for their videos. A lot of them are make up brands and they do it for vloggers to give positive reviews/reactions to their product. Although there are some vloggers who re honest, the majority of them will never tell the truth because they are afraid that brands won't sponsor them again and that's definitely wrong especially that the viewers will probably be deceived to buy the products that those vloggers are promoting.

6 years ago

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Barida

Barida

Word of mouth can work pretty better than reviews, but the thing is you won't really know if the customers are helping you to do this unless you are giving them some tips after they have done that for you. So, this is all about understanding what really works for you and adopting it.

6 years ago

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Barida

Barida

Reviews have been the in thing that is making a whole lot of people to enjoy the benefits of having to sell products and services at ease. I believe that what really matters is that the reviews are not paid for since when you finally fail to deliver, the buyers will leave bad remarks about the products.

6 years ago

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Martinsx1

Martinsx1

As long as the reviews are not forked with lies which are meant to mislead prospective customers into believing that the products and services are worth buying, then I'm all in support of using reviews to make one's decisions on whether to invest or not in the products or services offered.

6 years ago

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Youngshark

Youngshark

I agree as well I support the positive and organic review which are not misappropriated. I think that one should know the trustworthy sites beforehand or even people that do teh reviews and the experience in the industry that they have.

6 years ago

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vhinz

vhinz

Reviews are really helpful to increase sales. When I purchase online, I usually look for reviews before I make the final decision. But there are also cases that even there are good reviews on a particular product, there are still some customers that are not satisfied on what they've received.

6 years ago

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ElectorAlexande

ElectorAlexande

Yea thats true, review plays a good roll in determining a good product or seller. I don't buy goods from a store online without good reviews at least it shouldn't be less than 3 star rating. Review matters a lot

6 years ago

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Martinsx1

Martinsx1

Seriously in all honesty, reviews helps a great deal in selling products and services especially when they are meant to be sold online. Personally, before purchasing any service or product, I would definitely look up reviews about the products and possible people's experience with the said item.

6 years ago

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ElectorAlexande

ElectorAlexande

I think these day sellers Now make their own review and rating by buying their products and doing the review and rating on their own so sellers can think they are very good but when you check how many orders has been made you will see that it is just one person.

6 years ago

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jpk0007

jpk0007

I think marketing and advertising will definitely motivate a person to buy a product. But when it comes to the actual buying of any product the potential customer would always think a few times about the pros and cons of buying that product. A customer will very rarely buy anything on impulse, especially if the product is expensive. At this crucial stage, if the customer reads positive reviews about the product then it will definitely help him to take the final decision of purchasing the product

6 years ago

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mark8625

mark8625

That is right. People are sometimes carried away and motivate by the commercials and advertisement to buy their products. But people should also think if these items would help a lot and could reach their expectations about it. They also consider the effects of it in their daily lives and the benefits of it in their family as well.

6 years ago

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anyone01

anyone01

If the worst-case situation simply isn't that bad, then it makes sense to make greater bets & maintain taking greater shots on-goal with the expertise that one will subsequently be a hit. Provided you don't have all and sundry depending on you for their livelihood, then I would argue maximum reputedly volatile matters in life just are not that unstable. So for most, fortune favors the courageous and so forth.

6 years ago

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amelia88

amelia88

Marketing products has changed so much since the internet came around. Nobody wants to experience FOMO (fear of missing out) and I think advertising preys on that. If you make a product seem like something people simply can't live without, it's not a surprise that it would impact sales. For me, it's about seeing beyond those tactics a lot of the time, and not buying into the hype when I don't truly need something.

6 years ago

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emiaj55

emiaj55

Whether you are buying online or off the physical store, product reviews are very important. While ads promote the products, reviews provides a certain amount of confirmation on the quality of the products. Nowadays, there are certain businessmen that pay for good reviews. They don't necessarily mean that the since they resort to that, that their product is already under-qualified. It is just a good way of promoting the products. Some even pay to test out the products themselves just to get a more honest review. But all in all, the best product that you could get is from your own experience. Some products may suit others but not you.

6 years ago

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jayjaydimson

jayjaydimson

The advertisement is a way to introduce a product or services to future customers, it is a way of getting the heart of having customers for them to purchase your product or avail your services.

6 years ago

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mdayrit

mdayrit

I think that both advertisements and product reviews still play a role in getting buyers attention. Visuals that are great is a good magnet to get noticed. With a great ad, you can convince people who haven't tried the product to buy. Product reviews on the other hand can be the faster way to increase your customer. A good product review from an actual user of the product/ service is a strong way to convince others to use. Apart from that, it can help you be a preferred product or service provider.

6 years ago

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Jstreeter26

Jstreeter26

I honestly completely ignore advertisements these days. They have next to no impact on the things I buy. When I am looking to buy something I will go online and look up dofferent reviews of different products.

6 years ago

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Kakashi2020

Kakashi2020

That could have positive effects on sales but if the product isn't really what it claims to be then the positive effect would only be a temporary one, because word of mouth and bad reviews on product review sites and other consumer sites would eventually weigh down the sales. It's always best to market a good product.

6 years ago

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overcast

overcast

I think it takes years for proper risk aversion. And a lot of people learn from experience and understand how those problems can be managed. I think having some level of experience as project manager or the manager in general. That sort of approach needs to be understood lot differently. You can see that risk aversion is one of the things that they teach in MBA. So I am not MBA but I learned this through the Management information system.

6 years ago

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cmoneyspinner

cmoneyspinner

With the Internet, it's kind of hard to know if you're reading or listening to an honest objective review. Nevertheless, you take the risk of believing what you read or what you hear. If you buy the product and service and it does not live up to your expectations you can also publish an honest objective review too. That's what the business world go round and round.

6 years ago

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overcast

overcast

I agree that reviews from people also helps out with basing the business. Because that way we understand if buying that product or service is worth it or not. I think we can learn a lot from that experience. So I think risk aversion is one part of it.

6 years ago

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theresajane

theresajane

I agree with you. With everything that's happening all over the world of internet, it is hard to believe on just a single review. So, as much as possible, go over with the possible avenues that show different and varied reviews of a product that you are interested in.

6 years ago

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mitan143

mitan143

Sometimes, I rely on their ads for its initial information about the product or the service. I know that I don't have to rely completely to what the ads say but in order for me to have a benchmark then using their ads is very useful. I also like looking for its reviews and I think I can tell whether the review is just a made or a genuine one. Nevertheless, the important is I have to try the product first. If it is via online, I need someone that will prove its credibility. I tend to trust too those officially trusted products or services.

6 years ago

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cks003

cks003

It is true that testimonials of the previous purchase are important to the marketing strategists. In all too often this strategy is used to create unwanted demand, such as if the previous comments said the experience is good, then my purchase should bring me similar experience, although the experience of my purchase has no relation at all with the previous purchase given the different background and intention of the purchase. This invoked emotion to purchase should be reined in by consumers, as it can be costly financially.

6 years ago

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theresajane

theresajane

Though advertisments play a big role too in getting the attention of the customers into buying a certain product, positive reviews from those who have bought it would be the deciding factor, I agree. Well, getting a perfect score in your positive reviews would not be very easy. Some would tend to fake it, and mind you, it will not do you good. There's a lot of risk especially if the product that you are selling is not satisfactory to most of your buyers.

6 years ago

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stbrians

stbrians

Good reviews of a product is what buyers trust. They often think reviews show a clear picture of what the product is about. It is not usually the case as some reviews do not show a true picture.

6 years ago

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DenisP

DenisP

I think that social media websites like YouTube have done a pretty great job of grinding down risk aversion tactics. Salesman can try to convince you all they want that their product is the latest and great thing, but the fact is that there are plenty of people out there on social media doing real, honest reviews of these products.

Plenty of folks online have helped me avoid buying a product I was sure would be perfect for me. I know that salesman are just trying to do their jobs and make a living, but the fact is that they honestly feel like they’re trying to con you sometimes, especially when you get to see the truth.

6 years ago

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ajahcuizon

ajahcuizon

Their goal to satisfy the needs of their customer is something that they really want to achieve. A customer can't just say that his problem was solved just because he saw an advertisement of such product. He will only prove that his problem is solved just by watching and seeing some ads but rather once he used the product. That is why reviews are important to support such product to show if it is really an aid to the person's needs.

6 years ago

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gutzman

gutzman

I agree. I don't get interested easily by seeing, reading or watching ads. Most of the time I do some research with the specific product or service. I read some comments from the customers who already tried it then decide if it is worth it to try or not. A well done advertisement is very enticing though.

6 years ago

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Corzhens

Corzhens

On the contrary, there was a study of advertising on tv that it is very effective to the consumers hence the tv networks are raking it in from the tv commercials. Take the case of the fast food commercials that are focused on the children. When the child requests the parents for a burger there will usually be no resistance. And that purchase was due to the child that was influenced by the tv commercial. So I'd say that people in general buy when they see it on tv.

6 years ago

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