Knowledge Base
April
10

Buyer Beware

Posted by: Category: Finance

Buyer Beware

You may not be familiar with the title of this article, or indeed my writing style – but often they go ‘hand-in-hand’

I use phrases or sayings to support my articles – as this often acts as a good starting point to drive home various key facts I am trying to emphasize to my readers

The phrase or saying ‘Buyer beware’ has some legal background, but is more often linked to everyday life when trying to warn people against the perils of purchasing – that’s purchasing, often without good deliberation, consideration of facts – or sometimes just good old ‘commonsense’ (me included!)

Today’s fast pace World is all about ‘here and now ‘ getting things done today – action, not delays

We are all part of it We all want things immediately, we hate waiting, postponing, complications…

Without this hyper-energetic lifestyle, there would be no need for fast-food, microwave ovens, email, cell phones, instant coffee, 500 TV / Cable channels, express elevators……

But … that’s the World we live in, and the life we lead

Who, more than anyone, has grasped this concept of high-energy, turbo-boosted lifestyles than… the sales, business and marketing industry?

They are dominating virtually every aspect of our lives, often subliminal, subconsciously – but always effectively

This drives the passion inside us, acting as the catalyst which results in our eagerness, need, often greed – to make impulse decisions, instantaneous purchases… many of which are regrettable

Hands up those of us who have never bought something on the spur of the moment, then later wished they hadn’t??

It’s not all our fault

Whilst we must hold ourselves partly accountable, society too, but we mustn’t forget the experts all around us who are preying on our weaknesses – to make ‘that’ sale

It’s all about…

‘BUY NOW – Limited Stocks’
‘ Sale Ends SOON’
‘ Offer Won’t Last Long’
‘ This Deal Closes Tomorrow’
‘Price Goes Up At Midnight’
‘Get It While You Still Can’
‘One Day Sale’

It’s all very clever marketing and sales techniques – nothing illegal (not usually), some might say not even immoral

Here’s a little ‘hint’ about the morality of ‘sales’………

Where I live, I am constantly bombarded with Sales and Special Offers, just like many other countries

I will see an advertisement offering me a 75% discount off the normal price of a set of dining room furniture

Sounds good so far – that’s one hell of a saving – 75% off This means I pay only one quarter the normal price

However, and here’s the catch…… the retailer, part of a large chain, has at some time in the past few months, at one of their outlets / stores (usually one of their smallest, and least popular) – placed a ‘higher than normal’ price on the items for a short period

So – usual price in usual stores would be $2,000

But they applied a ‘special’ price at a small, unpopular store of $3,500 – for the same items

Advertise 75% OFF (but hidden in the small print they refer to the price at this ‘one’ store, where the item was on sale there for a few days

SO – here’s the bottom line

If it REALLY was 75% off – the ‘usual’ price of $2,000 – you would pay just $500

However, as they are using this special price from just one of their outlets, you pay 75% off this ‘adjusted’ price of $3,500 – which is $875… So you are in fact, paying much more than what the real discount should be

This is not illegal This is exploitation of a loophole And people just like you and me fall for this every day

Many of us will buy because of the discount, the special offer, the sale price – and have less regard for the product itself

NOTE – businesses very, VERY rarely sell items for LESS than they cost So Sale Prices still mean they make a profit – albeit a reduced profit

Often our impulse purchases of special offers and discounts, are made without a second thought regarding the terms, conditions, exemptions, exclusions, and guarantees (if any) that apply

Here is another, very quick example, of how we can be exploited
Mail Order companies, just like any other business have sales and special offers

But not all of them allow free returns of goods if you change your mind

This means that if you have decided not to keep the product, then YOU have to pay from your pocket, the cost of returning the item

This itself is a factor which is off-putting to many, and deters people from returning goods This results in lower returns, lower refunds for some Mail Order companies (and more profit)

The internet for example, is jam-packed with special offers, limited time sales etc It’s is one of the most popular forms of internet marketing strategies which ‘force’ (persuasive encouragement) people BUY NOW

And it works!

You simply don’t want to be left out…… To be the one who missed an opportunity…… so out comes that credit card and BANG! You’ve done it!

Often, following this very short period of adrenalin-driven hyperactivity, follows a prolonged period of remorse and regret

“Why the hell did I buy that?”

Sometimes we quickly try to claim a refund – but often we don’t We may have some small nagging doubts inside, but we put them to one side and cross our fingers

It’s only later, when we realise that the sale was ‘hyper-hyped’ – and the product may have been over-sold and in the cold light of day, under-delivered – we really start to have our misgivings

Often, it’s too late by this stage The offer has closed, the refund period *(if any) has expired The product didn’t live up to our expectations, the car doesn’t have an engine, the video we bought was Betamax, the software was too hard to use, the book was written in a reading style for those studying Quantum Mechanics, there is no support, I didn’t read the small print……

The last part is vital

If you really MUST have it – then check, read, understand and know the terms Don’t spend $200 on software only to find it doesn’t come with installation instructions, a manual or support

Check it out FIRST

If you are SO pushed for time, that the special offer / sale ends in two minutes – and you haven’t got the time to read the terms,…… do you really need it THAT MUCH?

If you have doubts – or questions, then ASK FIRST! If the seller wants to make the sale, they will be happy to help you If they’re obstructive – walk away

Is ANY purchase really THAT important that you MUST buy it NOW?

Unless you are buying food for your family… I doubt it

Can you afford to burn money? Or do you just buy things for the hell of it?

Make sure you KNOW what you are getting, what the limitations are, and if you get any support

So… Buyer Beware !!

© 2005 – All Rights Reserved Worldwide

An article by Gary Durkin
Founder of the Internet Advice Center®
http://wwwInternetAdviceCentercom

Gary has more than a decade of offline international business success behind him – each day controlling millions of dollars of investments world-wide, and has been doing business online for 6 years

If you would like to join thousands of subscribers to his newsletter ‘Delivering Success’ – send a blank email to deliveringsuccess@kioskcitiesws

© Copyright 2005 – All Rights Reserved worldwide

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