How conflict of interest can drive money behaviour4 min read . Updated: 22 May 2018, 12:10 PM IST
We live in a world full of information asymmetry and caveat emptor (buyer beware). Sellers always put themselves first
All economic transactions have a buyer and seller. As consumers we are buyers. As marketers, we are sellers. So, in all economic transactions, buyers and sellers have a conflict of interest. If you are selling a soap to consumers, you are making money from consumers. Consumers get the soap in exchange. If the seller is unhappy, he can raise the price and make more money or target different buyers. If the buyer is unhappy he can choose another seller of soap for better value at a lower or higher price. Both sellers and buyers have some advantages and some disadvantages.
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