After reading about the benefits (and potential costs) of a simplified product line, consider the following:
- In his 2004 book Paradox of Choice – Why More is Less, Barry Schwartz argues that eliminating consumer choice reduces anxiety of shoppers. Do you agree? Does the reduction in anxiety contribute to utility maximization?
- Does a simplified product line make consumer behavior more predictable? What benefit does this “predictability” serve the firm?
- Quoting Edible Apple’s article, “Would you rather have a smaller team comprised of only 7 All-Stars, or a full 12-man roster with 1 All-Star, 2 above average players, 3 mediocre players, and 6 benchwarmers?”
Our classroom discussion will take place next Tuesday!
Posted by Prof. C-S