Here's an idea

Companies like Amazon, Flipkart, Cars24 should insure the choice of the users in
case of expensive products like Smartphones, Laptops, Cars.

Read on.

When people choose between two products there exists cognitive dissonance, even
if you like one product over another you think of the negative features of the
product you like or the positive features of an alternative product and you are
in a dilemma.

The more important (expensive) the purchase higher would the dissonance.
Cognitive dissonance exists even after the purchase is made. But over time this
dissonance is reduced by a process of acquiring more positive information about
the product you have purchased (by using it or by reading more about it) or by
avoiding the alternative products.


What if you insure the choice? You tell the user that if they buy insurance for
Rs. 2000 on a phone worth Rs. 20,000 you will let them switch to a different
model within 14 days of purchase in case they don't like the phone they have

Cognitive dissonance will push people to buy the insurance and dissonance
reduction mechanisms will make them like what they have purchased and hence not
use the insurance.

#psychology #amazon #marketing #flipkart

Posted by Himanshu Kumar on LinkedIn