Why do people get cheated / duped while dealing with salesmen?
Here are my reasons:
1. They have no patience to listen: when the salesman is talking the buyer is too full of himself, and does not even hear / listen to the salesman. So in many cases he does not know what he is buying.
2. Ego prevents him from asking: I know one girl wanted to ask me whether it was all right to buy a financial product. Her husband (MBA finance IIM)’s ego was hurt, so he said ‘I am telling you buy this product’. She is now stuck with this lemon. Sheer ego, she tells me. ‘Your money, I told her. ‘Domestic peace Subra’, she said. LoL.
3. When it is your money and you do not understand keep asking questions. Till the cows come home you can ask questions. Alas it is only till the cheque is issued. The ability to ask questions cease once the cheque is encashed.
4. The fact that the client is successful in one field (nuclear physics) makes him arrogant to think that finance is too simple for him to spend time on. So he signs on the form that he sees.
5. I can understand maths, so I can understand finance – another brilliantly wrong theory.
maybe there are more…not sure..
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