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P.T. Barnum Quote

In a book on selling, Dan Kennedy quoted P. T. Barnum: "No man ever went broke overestimating the ignorance of the American public."

Kennedy descibed that statement as harsh, but he then suggested that many sales and marketing people make the mistake of overestimating the sophistcation of their customers. He was talking about "keeping things simple."

Thoughts? - by Ace Coldiron
I have always believed that most people don't know any better and so price becomes the main issue. That is, eggs are eggs and they just want the cheapest. When in fact, there is so much more that needs to be discussed.

That is what pops into my head when I read that quote. - by jdedwa11
I have always believed that most people don't know any better and so price becomes the main issue. That is, eggs are eggs and they just want the cheapest. When in fact, there is so much more that needs to be discussed.

That is what pops into my head when I read that quote.
In the segments of Barnum's "American Public" that I have consistently sold to over many years, I have not experienced price as the "main" issue. - by Ace Coldiron
In the segments of Barnum's "American Public" that I have consistently sold to over many years, I have not experienced price as the "main" issue.
Get into the auto insurance business. One call is all it will take to experience it. Everyone is shopping for a better rate; yet, they complain when they don't have enough coverage when they need it. And agents are rewarded for selling policies not coverage.

That is my world... and the basis for the comment. - by jdedwa11
In a book on selling, Dan Kennedy quoted P. T. Barnum: "No man ever went broke overestimating the ignorance of the American public."

Kennedy descibed that statement as harsh, but he then suggested that many sales and marketing people make the mistake of overestimating the sophistcation of their customers. He was talking about "keeping things simple."

Thoughts?
Besides the two comments seemingly being self cancelling I agree with Keeping It Simple.

I'm not understanding the eggs and insurance analogy especially with Progressive, with their clinically white and blue Ad.... shouting out... "Are you a Safe Driver? DISCOUNT!" "Own your home? Yup... DISCOUNT... Buy online?... Yup...DISCOUNT"... Discounts are everywhere so I'm open to discussion on this as to whether this makes us ignorant.

Recently, speaking of Auto Insurance, one of the forum posted an excellent example of why we are employed in his example of asking an insurance buyer, and I'm paraphrasing, P (prospect) "Hi.. I want the cheapest Insurance I can buy for my car. A (Agent) "Mr. P If you had an accident today, how much of the bill do you want your insurance to pay?" Prospect "All of it!" A "Mr. P you've just asked me to write you a policy for $10,000 of Property Damage. That wouldn't pay even for a good used car. You're asking for $20,000 of Bodily Injury protection, that might not even pay for a night in Intensive Care." And go on to suggest more adequate coverage.

I don't know how I look at this statement. Being one of the masses, I'm hesitant to admit that I'm one of the ignorant.

Aloha... ;bg shds; - by rattus58
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