Optimizing a brand’s offering in a market of overwhelming choices – published by Singapore Marketer

Freedom of choice. At first glance it sounds like something to be thankful for, and in market research, respondents unequivocally say they want to have choices. However, with choices comes complication.

Any individual who’s looked for a car, for instance, knows this well. Diesel, gas, electric, or hybrid? Which models are ideal? And afterward there’s exterior and interior color, entertainment system, etc.

This confusing cluster of choices in cars and pretty much every other products and services today makes a choice predicament: Consumers think that it’s hard to pick and even fear making the wrong choices.

With this being said, in a market full of choices, how can a brand optimize their products and services to give customers the flexibility to choose without making choice dilemmas?

Published in the Singapore Marketer Magazine, we discussed this using a case study of a telecom company.

Unravelling the choice issue

“To get at the answers the telecom company needed, several things had to be determined. First, would there in fact be a preference for customizing? When presented with predefined packages and the ability to customize their own bundles, respondents clearly favored customizing.

Next, would customizing reduce the average monthly expenditure compared with…”

What other considerations need to be taken into account when defining your set of options? Get your copy of the article in PDF.