A man driving a car and felt very thirsty. He don't have a water in the car. There was no shop and house on the way. It was like a road in the forest. He wanted to go a little further and see. He came about 50 km away. There was no shop and no house.
He felt very tired and thought that if he not drink water for a while, he would faint. Then a small department store came on the way he quickly stopped there and went inside. There were many water bottles. He was very happy and relieved to see that.
He took one bottle and came to the bill counter. The person who was there said that a bottle costs fifty rupees. He checked the price and found that it was only 20 rupees. When he asked, the shopkeeper said, "Sir, there is no shop before or after 60 kilometers from here, If anyone wants water here only available. If you like it, buy or leave." If he don't drink the water he will faint." He had no choice so pay fifty rupees and bought the bottle.
After few days on the same road, another person came in a car, but he had a lot of water in stock. While he coming, he saw this shop and going to buy something else. There, three bottles of water were priced at Rs. 60, but the offer price Rs. 30. The shopkeeper said that this offer is rarely available, so buy it. After thinking a little, he thought that he have a lot of water, so why should he buy it? So he refused to buy no matter how much the shopkeeper forced .
The offer given by the shopkeeper for water was like Amazon Great Indian Festival, Flipkart Big Billion Days. For the first person who came in the car water is essential, so he bought it at a higher price, but the second person who came did not need it, so he rejected the offer.
What this story is saying is if we really need it, we can buy it even at a higher price, but if it is not necessary, we should not buy it no matter how much it cost less.
If one kg of apples costs Rs 100 but you buy two kgs it will cost you Rs 175. The person who plan to buy one kg will immediately buy two kgs without even thinking about whether they are necessary or not. This means that the shopkeeper sale one kg extra, but buyer spend Rs 75 extra .
Buying unnecessary items only for lower price or higher quantity is called the decoy effect. If you don't fall into this trap, you can save a lot of money.
Very true.....nobody realises the Seller is happy to sell that extra quantity, while the buyer buys something that he requires many days later, and he also looses bank interest on the money unnecessarily spent !!
ReplyDeleteVery nice must think for a while
ReplyDeleteVery nice
ReplyDeleteSo sweete dr 🥰🥰🥰🥰🥰🥰❤️❤️❤️❤️❤️❤️❤️😘
ReplyDeleteHumans are more fascinated with offers ! Very true ! The story highlights the importance of distinguishing between needs and wants. It explains the decoy effect, where people are influenced to buy unnecessary items due to attractive offers. Avoiding this trap can help save money and make smarter purchasing decisions.
ReplyDeleteThat's really good idea which we never think about.
ReplyDeleteEye opening story
ReplyDelete