The digital age has ushered in a time of information symmetry. As discussed in class, gone are the days of a sly sales person having inside information not accessible to a customer and swindling them into a bad deal. Now, some of the most valued businesses are the ones who focus on putting the customer in the driving seat and giving them the most informed choice available. There are numerous databases like Kayak, Carfax, and Autocheck that give customers information on who to give their business too. This has made digital ad space a wise source of revenue for many companies. For customers, comparison of deals and offers is extremely easy and the businesses that generally succeed in winning their choice are the ones who acknowledge the era of information symmetry. I believe the a positive change from information symmetry will be continued transparency from businesses with the small things and less frustration with the “fine print.” Hopefully, a growing intolerance for the nickel and dime charges customers don’t expect will diminish and sales people will be more upfront about there costs and benefits. This will give customers more confidence and businesses a better reputation.
By rogersnw18
BoweryJE22 3 thoughts on “Information Symmetry”
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The Digital Age has definitely helped the buyer in knowing whether they are getting a fair price or not. I agree though that there is some frustration among consumers (especially older people) with the “fine print” that comes out of a buying/selling contract on the consumer’s end. Great post!
I think this is very true. The way that the digital age has shaped the way we sell has affected everything. I really do hope that it makes sales people continually truthful and helpful instead of persistent and pushy.
The Digital Age has absolutely revolutionized sales. Transparency, Competiton and improved prices and services are all benefits of Information Symmetry. Salespeople can use this available information to research their competitor’s prices, adjust their own, and prove their value to potential customers while in a sales meeting. Transparency has changed the game and allowed for more competitive markets in different industries.