Game of Consultants
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Continuing failure of Ed-Tech
The Ed-Tech industry which gained immense popularity during the COVID-19 pandemic is now on the threshold of failure. From being a supplementary mode of education to a primary one during the pandemic days, the industry is now coming to terms with reality. Well known companies like Unacademy laid off 600 employees and Vedentu another 200. Despite the fact that most of these companies are well funded and have high valuations they have not been able to perform well. They are facing problems of low enrollment rates and numerous complaints from the existing customers. The question this poses is that Ed-Tech’s were simply a necessity during an unusual time in human history and with things back in order, the limitations of virtual learning are finally exposed.
Dive deeper into this article to analyse the trends and the reasons behind the rise and fall of Ed-Tech startups and if they do have a future in the Indian scenario.
Stature, Snobbery and Satisfaction- Unveiling The Veblen Effect
The Veblen Effect, coined by economist Thorstein Veblen, delves into the phenomenon where consumers gravitate towards costlier goods, associating higher prices with enhanced quality and social status. Rooted in conspicuous consumption, this behavior was initially observed in the upper class but has permeated all socioeconomic levels. The price-quality heuristic, a mental shortcut, reinforces this tendency, contributing to overpricing and irrational purchases.
This article by Sharanya Tulsyan remarkably navigates these dynamics and traps that consumers fall prey to while making purchase decisions. This economic anomaly is further explored through examples of social experiments, like the FRAGO Italia perfume launch and the Chivas Regal 18 whisky experiment, which underscore the widespread influence of the Veblen Effect.
Read on as Sharanya Tulsyan uncovers this twisted psychology in her article – Stature, Snobbery and Satisfaction- Unveiling The Veblen Effect.
Product Updates: Is Latest Really the Greatest?
Consumers often assume that the latest product iteration is superior, but this isn’t always the case. Businesses frequently use updates, sometimes minor, to renew interest and attract buyers. This “newer is better” assumption can lead to blind consumerism, pushing unnecessary purchases and creating overconsumption trends. Despite occasional disappointment, consumers maintain interest, assuming the next iteration will surpass predecessors. While updates can improve efficiency and satisfaction, misleading updates can exploit consumers’ trust, leading to inferior purchases and unnecessary expenses.
Check out T Himaja Reddy’s article as it navigates through the disruptive world of product updates and their impact on consumer rationality by analysing the example of Apple’s recent launch of iPhone 15.
Catalyzing Change: Insights into the Complexities of NGO Fundraising Report 2023
The “Catalyzing Change: Insights into the Complexities of NGO Fundraising Report 2023 edition” is a report that provides valuable insights into the challenges and opportunities faced by NGOs in their pursuit of financial sustainability. The report examines the fundraising landscape across four key sectors: education, gender equity, healthcare, and environment. It identifies common fundraising issues faced by NGOs. Additionally, the report provides recommendations for NGOs to navigate these challenges and enhance their fundraising effectiveness.
Floor Price of Basmati- A Way for Growth or a Path into Recession
In the labyrinth of India’s basmati rice market, a seismic shift occurred on September 12, 2023, when the government fixed the MEP at $1200 per tonne. The consequences were swift – a decline in global market share, farmers facing substantial losses, and a food fair in Turkey where Indian companies received no orders due to soaring prices. The government, initially unyielding, eventually bowed to pressure, lowering the price to $950 per tonne on August 27. As the dust settles, this article delves into the repercussions on farmers, the economy, and the intricate web of international relations. Amidst rising exports, pockets are affected, and the impact on India’s basmati industry unfolds in a tale of growth and potential recession. Uncover the intricacies by exploring the complete article.
End to password sharing: Boon or Bane for Netflix?
In a shocking twist, Netflix has declared war on password sharing, ending an era where one subscription meant endless connections. The fallout was immediate – angry subscribers, threats to abandon ship. But did Netflix’s gamble pay off? The unexpected answer lies in a surge of 5.9 million new subscribers, defying skeptics and reshaping the streaming landscape. Dive into the full article to unravel the suspense behind Netflix’s bold move – a decision that not only challenges the norms but leaves a lasting mark on the future of online entertainment. Discover how the streaming giant turned a potential crisis into a triumph, setting the stage for a new era in streaming.