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pricing and trust in Nigeria

Circle sketch of price and trust

Every time we negotiate, no matter how good the deal was, we will always feel cheated.

How do I mean?
Some years ago, a video (or post, I’m not sure which one) was posted on the internet where the poster employ people to always patronize roadside sellers and claimed that these people have families to feed.

In the same post, the author posit that people would buy stuffs in Malls without checking the price while negotiating with those who sell by the road.

One of the core of human behavior is fairness, whenever we feel we are not getting a good deal, we felt threaten and this only lead us to act more selfish (we are all selfish).

We don’t really make decision based on pricing, rather we make it based on fairness – and we are the sole judge of how fair a deal was, compare to the other deals we experienced in the past.

As a creative, whenever people have to ask you for the price of your service, if you make them negotiate, no matter how fair you think you are, they will always feel cheated.

Open/transparent pricing is one of the main advantage one could take, but then, we usually don’t think much about this. You feel good buying from Malls because of two things;

  1. It makes you feel important, like you’ve arrived
  2. You feel like you’re getting a good deal since that’s what everyone is buying it.

Many ad ROI is cut short because the advertiser is not taking advantage of transparent pricing. Nigeria already have a shortage of trust, if your business is not transparent in its pricing, you’ll always pay the price.

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