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Information asymmetry

I am reading freakonomic, Steven D Levitt mention about Information asymmetry!

Refers to wikipedia, Information asymmetry stand for?

Information asymmetry occurs when one party to a transaction has more or better information than the other party. (It has also been called asymmetrical information). Typically it is the seller that knows more about the product than the buyer, however, it is possible for the reverse to be true: for the buyer to know more than the seller.



Sales man knows better than consumer, what will they do while doing sales? What their boss guide them how to do sales? I have heard few techniques, bellow are the examples.

Convince them to buy? If not successful? Confuse them.



Show the facts(untruthful one) to scared them, then later explain how your solution can help to cater.



So conclusion, Salesman will make you scared by confusing you, the purpose of doing that is to convince you to buy their products.

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Comments

Anonymous 22. April 2007, 08:26

toydi writes:

> Salesman will make you scared by confusing you

Sounds like a thousands-dollar-black-crystal-to-heal-you scam. :P

Anonymous 28. March 2008, 00:14

Just Simple writes:

That's against the ethics =.=*

I love sales, but the problem for being in sales is... i am reluctant to sell something that the customers don't need or can't afford to.

Sigh~ When will a sales personnel's image improved?

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