- Joined
- Jun 29, 2007
- Messages
- 4,698
If a knife maker sells out before the show startsIf the knives are priced HIGH ENOUGH there will always be knives on the table.. Just thinking.
A customer might be willing to pay a premium to get a better selection, not just the only thing that is left after the stampede. So where's the happy medium? If maker knows he'll probably sell out quickly, doesnt this affect his thoughts on prices, to some degree? (or no)
On the lottery how common are "shill" buyers recruited? Standard operation with large volume dealers?
He is pricing his knives too low
So why doesn't he raise his prices?
If he has 10 potential buyers at $1,000
He will have 8 potential buyers at $1,250
6 buyers at $1,500
(Or something along those lines)
Etc.
Seems simple to me.......
Why not raise the prices until there are only, say 1 or 2 buyers willing to pay the raised price?
I guess what I'm saying is, when demand exceeds supply
You raise prices...right?
You guys actually answered a question I had on regional knife buying preferences :thumbup:
Is a guy in rural Montana more likely to buy a forged bowie than a tactical folder?
Vice versa for the guy who lives in urban New York (or Chicago)
I don't see how too many shows hurts the knife consumer
More choices the better I always say
In classical economic theory it is a basic principle that expanding the choice set cannot make a consumer worse off (Benartzi & Thaler, 2001). From this perspective, the only reason why the full demand for variety on the side of the consumers will commonly not be supplied is because producers have to balance variety against the lower unit production costs of fewer variants (Lancaster, 1990). If production costs are the only factor that limits assortment size, the amount of variety should increase if production costs decrease. According to Anderson (2006), this is exactly what happens. As an example, he points to the fact that the number of options to choose from is commonly much higher on the Internet because there, the costs to produce and stock a variety of goods that appeal to consumers is commonly much lower than in regular stores.
n his 2004 book The Paradox of Choice, Barry Schwartz wrote: As the number of choices grows further, the negatives escalate until we become overloaded. At this point, choice no longer liberates, but debilitates. It might even be said to tyrannize (p. 2). On the other hand, Anderson (2006) as well as Postrel (2005) cherish the overabundance of choice as a liberating force that enables individuality and pluralism and that leads to more efficient markets. Also, the research on adaptive decision making provides strong evidence that people have a wide repertoire of choice strategies that they can employ depending on the situation. From this perspective, having many options to choose from does not automatically lead to choice overload. After all, people adapt to choice; they satisfice and they deliberately limit their choices all the time, for instance, by applying a filter, consulting an expert, or reading Consumer Reports. As noted by Schwartz (2004): A small-town resident who visits Manhattan in overwhelmed by all that is going on. A New Yorker, thoroughly adapted to the citys hyperstimulation, is oblivious to it. This latter perspective on choice overload is in line with my empirical findings showing that the effect of too much choice is much less robust than previously thought.
The guy who wants a tactical folder will go to the Chicago show before a show where they sell mostly forged, bowie type , "traditional" knives
Give him the choice of attending a knife that caters to his personal preferences.....
@Tenn Knife Man==============>
The power of touch: An examination of the effect of duration of physical contact on the valuation of objects
Consumers will pay more for goods they can touch: research"Even if you don't touch the item," says Rangel, "the fact that it is physically present seems to be enough. This Pavlovian response is more likely to be deployed when making contact with the stimulus is a possibility."
What does all this mean in the real world? At the very least, it suggests that your local bookstorewhere you can reach out and ruffle a paperback's pagesmay have more staying power than e-commerce experts might think.
There will always be acertian segment of buyers who want to handle the goods first
That is good news for the "future" of knife shows
It also gets tricky
Because, as I see it
Having a long waiting list is sort of a "stamp of approval"
If a guy has a 5 year waiting list===>
It sends the signal to the knife buyer that he is in demand and he only sells hi quality knives
Unfortunately, in today's instant buying power (as in the internet)
Some people are not willing to wait
They need a knife NOW
So they look elsewhere................