Best in brief: Risky business

How companies can influence purchasing decisions in two ways: reduce interaction costs or make purchase and ownership less risky.

Best in Brief

MIT Sloan Management Review: Risky business

Mark VandeboschandNiraj Dawar

In an environment where competitors can match any product improvements quickly, companies can influence purchasing decisions in two ways: reduce interaction costs or make purchase and ownership less risky.

Buyers incur a range of costs in learning about, acquiring, using, configuring and finally disposing of products. It is also often missed that in purchasing a product or service bundle, consumers incur the costs of not purchasing an alternative bundle. Thus, someone might buy a people carrier for roominess and comfort, but forgo the fun and image...

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