Sunday, November 06, 2011

Mass Market Hypocrisy & Economics

Case 1: Many people admire PG Woodhouse; if I fail to like his novels – there is something wrong in my understanding. Therefore, to hell with my likes, when in public, I am going to say that PG is my favorite author.

Case 2: I remember my father’s yearly bank audit closure parties, where we children were forced to watch some vintage cricket world cup series – how long and boring those were. IPL 20-20 is so much fun!

I am sure thoughts like these have cross many of us. Even if they haven’t, would appreciate if you read through my thoughts on the subject. Essentially the point I am trying to make is that a) one should respect every other individual’s choice and b) change is good and should be welcome. So what if some of us think that Chetan Bhagat’s writing is trash – there are a million fans who adore him. And these million people have a right of freedom to like/ dislike an author, just as we have. So what if my dad feels that cricket is no longer what it used to be – there is a new generation who just do not have time to watch a one-day match and is happy with the new format.

I agree that reaching to masses or ‘democratization’ reduces value – but that is true for anything. A mass product will never command premium. But the truth is that it is neither meant to and nor is it positioned in that way. This is simple economics. I am sure we experience this in our business; there are always some clients who will just not look beyond a Mckinsey or a BCG and then there are some who give others a try! Do I hear someone saying “…expert advice/ assistance has become much more affordable with many consulting firms around, however the true value of what is served to the client has reduced”

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