Comments on: The Endowment Effect – Why We Overvalue What We Have http://www.businesspundit.com/the-endowment-effect-why-we-overvalue-what-we-have/ Entrepreneurship, Startup Companies and Business Philosophy Mon, 23 Nov 2009 02:54:25 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: laurence haughton http://www.businesspundit.com/the-endowment-effect-why-we-overvalue-what-we-have/comment-page-1/#comment-189 laurence haughton Tue, 15 Nov 2005 19:10:23 +0000 http://www.businesspundit.com.php5-6.websitetestlink.com/?p=2361#comment-189 IMHO marketers would do much better if they stopped trying to be all encompassing and concentrated on being relevant to the buyer. Think of it as long tail marketing and selling. Of course making money out of the long tail requires a lot of individual listening sessions before you shape the pitch. And a company's credibility would go up if they stopped blowing nothing but all encompassing sunshine up the market's skirts and used some marketing money to really fix the negatives that buyers see. IMHO marketers would do much better if they stopped trying to be all encompassing and concentrated on being relevant to the buyer. Think of it as long tail marketing and selling. Of course making money out of the long tail requires a lot of individual listening sessions before you shape the pitch.

And a company’s credibility would go up if they stopped blowing nothing but all encompassing sunshine up the market’s skirts and used some marketing money to really fix the negatives that buyers see.

]]> By: David Gibbons http://www.businesspundit.com/the-endowment-effect-why-we-overvalue-what-we-have/comment-page-1/#comment-188 David Gibbons Tue, 15 Nov 2005 05:43:16 +0000 http://www.businesspundit.com.php5-6.websitetestlink.com/?p=2361#comment-188 Applying set theory ... Sellers have to position their product to ALL potentail buyers ... so their set of positive attributes is all-encompassing. Buyers only have to understand a product from the perspective of those features that they INDIVIDUALLY find useful. From a sellers perspective, the set of positive attributes is obviously MUCH larger than that from any one Buyers perspective - when last did you use all the features on MS-word? Thanks for making me think this through Rob. Applying set theory …

Sellers have to position their product to ALL potentail buyers … so their set of positive attributes is all-encompassing.

Buyers only have to understand a product from the perspective of those features that they INDIVIDUALLY find useful.

From a sellers perspective, the set of positive attributes is obviously MUCH larger than that from any one Buyers perspective – when last did you use all the features on MS-word?

Thanks for making me think this through Rob.

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