I've been telling Yang this could be turned into a case study for Marketing students in the future.
Good investments vs bad investments.
Here's the story.
Yang went down to Queen Victoria Markets one day to do some grocery shopping when he stumbled upon a fruit store selling strawberries at an obscenely cheap price.
"$0.50 a box!" said the grocer, "or $3 for a tray of 10 boxes".
The grocer went on to warn of the $3 strawberries, that there may be some that are already moldy, but you could still pick out the good ones.
Yang's dilemma now was whether to get a good box of strawberries for $0.50, or a tray of 10 boxes for $3, even though the $3 ones MAY have some moldy strawberries.
Students, present your case.
* For those interested, the plastic bag of strawberries on the RIGHT (yes, the one with significantly MORE strawberries) are the ones that were MOLDY. Now, would you rather go for $0.50 or $3?
well if they are moldy they prolly gonna spread to the rest soon. the process of picking up the bad ones from the good ones maybe tedious and by the time you finish picking, you prolly are sick of ur investment and would rather chuck it aside. ( but on the other hand! if you engage your love one to do it for you, eh, the end result of just eating from a pile of nice strawberries is sheer enjoyment. ) HAHAH :P
ReplyDeleteand, can you actually finish a bag of $3 investment in a few days time, knowing that strawberries are parishable goods?
so unless you going to make strawberries smoothies, bake strawberry pie and strawberry jam for the next 3 days. common sense tells you to get the $0.50. or 2 boxes of the the $0.50.
but again, while standing at the store if your mind can process above data that quickly while your heart is being tempted to just waste $3.00 and temporarily assume you've gotten urself a good deal maybe, Priceless. Yes, you were deluded but at least you felt victorious for awhile. Though 2 days later, you check out the bag of straws again to see them all spoilt and threw them all away cos you were too lazy to pick them.
Instant gratification is what keeps us going these days. So if you belong to the MEME culture, pls go ahead and get the $3.00. At least you know, thats the norm and everyone's doing it and you wont feel so bad when you have to throw them all away thinking you're the only fool in the world.
Uh No. You'll be surprise there are plenty of fools out there making poor investment judgement. People usually overestimate their intelligence and judgement.
(:
rational consumer will go for $0.50.
Irrational but happy consumer will go for $3.00.
10 boxes for $3.00 + picking + issue: can you finish them in 3-5days time?
ReplyDeleteor 6 (premium) boxes for $3.00. No picking required.
let just reduce the agony and buy 1 or 2 boxes. (: its still relatively cheaper than buying from supermart. Its WHOLESALE market you're in. Its not really for small appetite consumer like us. (:
The logical Shawn said "do you need that much?"
ReplyDeleteYang replied "aiya just whack lah."
Greed prevails. Haha!
But other than that we got some really cheap stuff from Vic Mart ;)