Let me explain.
The other day I took a diversion to my usual route back home. I had to fix my mixie jar. I parked my car near the shop and got the job done.
Getting back to my car, I found a Litchi vendor. Since it’s a seasonal fruit, I gave it more consideration.
Looking around, I found two customers doing business. Enough social proof, I guess.
I asked the price. He quoted Rs 180 per kg. I did a quick calculation, how many would suffice and zeroed down on half a kg.
Not that Rs 90 would break my bank account if the quality wasn’t good, I questioned its quality. The vendor shrugged and asked me to give it a try. I did and was satisfied.
I asked the vendor to weigh in half a kg which he increased to 600 gm. I didn’t object.
Picking up my plastic bag, I casually remarked “Bhai bahut mehenga bech rahe ho.(It’s too expensive” Of course this was not a market researched and analytics back insight, it was just to see his reaction. He responded with “Sir subah dhai sau katha (ie. Rs 250 per kg)
I thought to myself. “Sahi bargain mil gaya.(Got a good deal)”.
Not the most extraordinary of all business transactions but a template for most business transactions.
- You look for social proof.
- You do a test trial.
- You do your cost benefit.
- You asses risk.
- You take a decision.
Any business that can help you smoothen all the above tasks, can sell almost anything.
Did I miss anything?
