“Sometimes, the best part of buying something… is the buying part.” – Seth Godin [1]
The human psychology behind the economic decision making process is an interesting thing.
… and this is what I intend to capture in my startup (but this is really as much as I will disclose for now).
Thinking in my Stanford decision analysis class’s terms: the sunk cost principle might have something to do with Seth’s observation. People may feel that the products they buy immediate loses some tangible/intangible value, once they’ve made the purchase.
Yet, perhaps, to some people, the value is in the buying, and not ownership. Is this something that can be quantified?
Example: If there are two exactly identical products, one is being sold at an upscale shopping district; and one is being sold at measly little insignificant store. Then, there is “value” placed upon the store-front, and perhaps, “value” to the consumer in the different buying experiences.
It will be interesting to see how this sense of value will be reflected in my “system.”
[1] Seth Godin, 20080420, Sometimes the best part…
Tags: Entrepreneurship, Opportunity, Quotes, Seth Godin, Stanford
