Consumers almost always tell researchers that they prefer to have many versions of a product from which to choose. But, in fact, consumers’ perceptions of how many choices they prefer change depending on whether they intend to use an item for pleasure or to meet a functional need. (Think of a swimsuit desired for beachwear versus swimming laps.) For retailers, that difference has big implications for the problem of assortment — how many variations of a single product to offer.
How Many Versions of a Product Do Consumers Really Want?
It depends on how they use it.
June 27, 2018
Summary.
Many businesses assume that their customers would prefer to have as many product options to choose from as possible. In this piece, the authors describe a series of six experiments they conducted to explore this phenomenon. They found that when consumers were motivated by pleasure, they did in face prefer a larger array of options — but when they were interesting in fulfilling a more utilitarian need, they were satisfied with a smaller assortment of product options. These findings have implications for manufacturers as well as for retailers, who would do well to consider the extent to which consumers are likely to want a large assortment of products to choose from in different buying contexts.
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Learn how to communicate with your customers—strategically.