Friday, October 28, 2011
Thursday, October 27, 2011
On any Sunday during the fall, my location is pretty predictable. I am staring at a t.v. watching the Indianapolis Colts. I am decked out in blue and white with my jersey and hat. I have started my pre-game rituals and I am blowing up my twitter feeds about my excitement, joy, and recently extreme frustration. I am calling or texting my family to celebrate the victory or complain about the defeat. For as long as I can remember, I have been a Colts fan. I have spent money on jerseys, posters, flags, banners, hats, hoodies, stickers, away game tickets, and home game tickets. I invest my time. Since I was young, I have invested my time, energy, and money into the Indianapolis Colts.
Over the past 5 years, I have been to over 25 Colts games. I do not own season tickets but would buy them game by game. When someone would suggest to go to a game or when opportunities to purchase tickets game around, I bought them immediately without hesitation and without any regard to the financial risk. The Colts have been the most winning team in the past decade. A win was almost a guaranteed. Fans were almost guaranteed a quality experience, entertainment, and of course a win. There was no uncertainty regarding the outcome of the purchase decision. There was no perceived risk.
Times have changed. The Colts are 0-7 this season and are almost guaranteed a loss. While I still am a Colts fan and will forever be one, I acknowledge the perceived risk of attending a game. The perceived risk is that I will spend money on tickets, food, transportation, parking, and knowing me a jersey too and that the outcome will be disappointing and I will regret my decision.
After going through the decision making process, I bought tickets and I will continue to by tickets no matter the risks. The perceived risks do not have an impact on my purchase but I do acknowledge it. My loyalty and passion override any of the potential risks.
Wednesday, October 26, 2011
A while back I decided to go to Robert’s, a camera store, because I needed a new lens cap for my camera. My parents suggested that I look at the SLR cameras that they had for sale. We began talking with the sales associate who told me about a special deal that they were having this week that lasted for another day or two. He asked me about my camera, and he told me why I might like a new one. I had been thinking about getting a new camera, but hadn’t put too much effort into actively seeking to buy one.
The sales associate made me realize that I had a problem: I wasn’t able to take the best quality pictures that I could take. He talked with me about my actual state and then presented me with the ideal state. He showed me the special features with an SLR, and he displayed a large picture of what I could be taking. I was motivated because it would allow me to take better pictures and get the quality I desired. My goal at that point was to have a nicer camera.
I had one night to make this decision. My parents, who at this time were my reference group, kept presenting me with reasons why I should buy it. I am someone who takes time to make my decisions about expensive products. I considered the pros and cons. The perceived risk was that I would spend too much on something that I didn’t absolutely need and something I might not like. My opportunity was constrained by time. I decided to buy it, and I love my camera!
I learned that sometimes quick decisions can be made in good judgment as long as you still quickly review the pros and cons. I also learned that I have to differentiate between how my reference group feels and how I actually feel because I will be the one using the product. Also, you have to think about the sales associate’s job and make sure you can decipher the truth.
One thing that I have noticed when I go to any grocery store is that people, (including me) sometimes decide to buy certain brands based on how many products are on the shelf. For example, when I went into the grocery store yesterday, I noticed that there were many people in the candy aisle (which makes sense because it’s almost Halloween). I observed these people for a few minutes and I noticed someone who picked up a bag of candy and considered it, while looking over to the candy nearby that was almost sold out. After thinking about for a couple of seconds they put the candy down that they were holding and decided to purchase the other one instead. The two bags of candy were around the same price, but the fact that one type of candy was almost sold out might imply that it is a better brand of candy. I didn’t even realize that I did the exact same thing when I was buying vegetable oil. I picked up the Crisco because that was what I was used to getting, but then I noticed that a lot more people had been purchasing Wesson. They were almost the exact same price, and I never thought about the possibility of the Crisco having been restocked. I just noticed that there was less Wesson on the shelves than Crisco, and I automatically thought “this must be the one that’s more popular.”