Mary has over 20 years experience as the editor of our Malaysian sister magazine, The Tyreman. Based in Kuala Lumpur, she writes articles for us on the Malaysian and other South East Asian markets.
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As tyres are a depreciating asset, Michael said, the price at the point of purchase becomes a worthless measure.
There are a number of ways we make decisions. When it comes to commercial tyres, Michael Hutt, Group Marketing Manager, Kit Loong Commercial Tyre Group, explained that there are a few options. These options, he pointed out, come with benefits and consequences for one’s business.
“The first option is to buy the cheapest tyre you can find. This is often a ‘gut instinct’ decision; the cheapest product will save you money over a more expensive one. But is this the correct decision? Hardly ever. Gut decisions are difficult to change, most people will stick with them even when told they are wrong. Sometimes, people telling you that your gut instinct is wrong will make you even more likely to continue,” he said.
At Kit Loong, Michael sees the same mistake being made every day and it is often difficult to change people’s mindsets. According to him a lot of customers will buy the cheapest tyre at the point of purchase and be proud that they feel they got a good deal. But tyres are a depreciating asset, he warned, meaning the price at point of purchase becomes a worthless measure......
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