Dating game


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Dating game

  1. 1. Another way to think about dating! The Business of Dating Applying economics and simple business concepts in dating game Tuesday, August 27, 2013
  2. 2. Understanding the Basic Model Tuesday, August 27, 2013
  3. 3. Law of Demand Law of demand: When the price falls, the quantity demanded rises, and vice versa other things held equals. Y axis: Price X axis: Quantity Demand curve P1 P2 Q2Q1 As Price 1 (P1) falls to Price 2 (P2), Quantity increases from Q1 to Q2 Tuesday, August 27, 2013
  4. 4. Law of Supply Law of supply: When the price rises, the quantity supplied rises, and vice versa. other things held equals. Y axis: Price X axis: Quantity Supply curve P2 P1 Q2Q1 As Price 1 (P1) rises to Price 2 (P2), Quantity increases from Q1 to Q2 Tuesday, August 27, 2013
  5. 5. Redefining The Terminology Price (P) The efforts & hardships your target/targets have to “pay” to get your attention The rewards you deserve from your target/targets before/after you give in your efforts & hardships to get your his/her/their attention Tuesday, August 27, 2013
  6. 6. Redefining The Terminology Quantity = Gifts & surprises + Revealing your self culture & stories + Flirting & touching + Making contacts + providing Solutions and comments + Care and concerns Q = G + R + F + M + S + C Notes: what “quantity” contents can be varied accordingly to the targeted “consumers” (the one or ones you are going for). Tuesday, August 27, 2013
  7. 7. Definitions & Short Notations Gifts & surprises (G ) amount of gifts you buy and amount of surprise you give Self cultures & stories (R) Stuff about your life, experiences, believes, values, background, likes, and culture Flirting & touching (f) amount of flirtatious conversation you make amount of touching you do on your target/targets Making contacts (M) Initiating a communication such as: texting, calling, FB-ing, etc Providing solutions & comments (S) Telling people what to do, right or wrong, good or bad. Care & Concerns (C) the degree of giving care and concerns about your target/targets Tuesday, August 27, 2013
  8. 8. Demand & supply model In terms of Dating Y axis: Price X axis: Quantity Demand curve P1 P2 Q2Q1 AS The efforts & hardships your target/targets have to “pay” to get your attention fall, your targets tend to consider you more Y axis: Price X axis: Quantity Supply curve P2 P1 Q2Q1 AS P rises, you are motivated to provide more efforts to get your target/ targets attentions Tuesday, August 27, 2013
  9. 9. Changes in Demand & Supply Demand & Supply curve shift: In time, demand/supply curve might shift its position to left or right Assume Price is consistent, and the entire curve shifts, the demand and supply for dating market changes. Quantity (Q) changes to Q* or Q** Q Q*Q** Q Q*Q** more demand, Q* increases @ all price level lesser demand, Q** drops @ all price level more supply, Q* increases @ all price level lesser supply, Q** drops @ all price level Tuesday, August 27, 2013
  10. 10. Factors that cause shiftings Examples of factors that cause demand/supply curve to shift in time: taste: people may change their taste time to time wealth/Social status: It causes you/your targets to upgrade or downgrade preferences. Expectation of the future: what you/your targets expect in future, determines how much they want you to be their mate now. Incidence: something happens that changes you/targets’ decisions by force or by will numbers of Competitors (supply) / numbers of targets: if you have more competitors, your chances is lesser, or vice versa, and Other things held equal. If, suddenly, you have more selections, more targets are interested in you, you might supply your efforts lesser discovery: as you/your targets learn more about one another deeper, it could change your/their perspectives in demand and supply Tuesday, August 27, 2013
  11. 11. Applying the model Tuesday, August 27, 2013
  12. 12. The Model Putting both demand & supply curve into the same graph When P & Q reach a point when P = Q, it is called the equilibrium It is the point when your targets’ demand is equal to what you are willing to supply your effort to have a date Y axis: Price X axis: Quantity dem and curve supply curve P* Q* Tuesday, August 27, 2013
  13. 13. Reading the model If the price is lower than the equilibrium @ the supply curve supplied quantity is Q’ @ the demand curve demanded quantity is Q” It indicates that, the quantity demanded by your targets exceeds the amount you offer to them. Y axis: Price X axis: Quantity dem and curve supply curve P’ Q’ Q” Example Tuesday, August 27, 2013
  14. 14. Reading the model Consequently, your targets will be happy to offer high Price, P”, to obtain your attention, observe the point @ demand curve At this point, You are highly demanded in the dating game However, you will be tempted to offer more effort to capture your targets with that kind of price. observe the point @ supply curve. Y axis: Price X axis: Quantity dem and curve supply curve P’ Q’ Q” P” P* Q* Example Tuesday, August 27, 2013
  15. 15. Reading the model If you cannot resist the temptation of P”, and irrationally you decided to supply more than the equilibrium quantity, Q”, your market value would drop. In other words, Your targets would begin to have less appreciation on you, observe the point @ demand curve As a result, your efforts become cheap @ P’ Y axis: Price X axis: Quantity dem and curve supply curve P’ Q’ Q” P” P* Q* Example Tuesday, August 27, 2013
  16. 16. The Strategy Tuesday, August 27, 2013
  17. 17. The Strategy!!! create a ceiling price lower than the equilibrium & a quantity wall less than the equilibrium Do your best to maintain P < P* Don’t give them such a hard time to get your attention Never expect or ask your target/targets return a price equal or higher than what they would offer @ P* Q < Q* only supply what they demand. In fact, answer only to reasonable & achievable demands. Y axis: Price X axis: Quantity P* Q* ceiling price quantitywall Tuesday, August 27, 2013
  18. 18. The Strategy!!! Result is, demand of you, will always remain high you will have high possibility to get engaged in a relationship with your target/ targets Notes: limiting your efforts and the desire to have greater returns do not mean That you should supply 0quantity of efforts to your target/targets!!! Y axis: Price X axis: Quantity P* Q* ceiling price quantitywall P Q Q` targets’ demand quantity exceeds supply quantity P` targets are willing to offer this price Tuesday, August 27, 2013
  19. 19. The Strategy!!! However, in time, Demand curve might shift to left targets might loose interest in you P Q ceiling price quantitywall Tuesday, August 27, 2013
  20. 20. Applying Business Concept Making sure the demand curve @ the “right” place Tuesday, August 27, 2013
  21. 21. Value Creation You are the producer, you are the enterprise, and you are the goods and services Develop your “product” with three crucial concerns. balance the 3 crucial concerns: the trinity of value creation What your target/ targets want? What do you want? What do you have? Tuesday, August 27, 2013
  22. 22. Target Costumers What do you want? Make a criteria list and slowly define what kind of target/targets you are seeking for. remember, eventually when you are in a relationship, you ought to accept and embrace whoever and however he/she really is. Criteria: physical appearance, wealth, social status, social grace, knowledge, inner person, values, mind set, believes, etc Tuesday, August 27, 2013
  23. 23. Detecting demands “Researching” Sufficient information about your target/targets to give you a clear direction before you go after your target and make unnecessary scarifies by communications and conversations with your target/targets, people who know he/she/ them Read some psychology books, articles, tips from internet: dating book, discoveries about sex & genders, etc. Study their social networks to analyze things they care, don't care, like, and don’t like. Do Not Stalk!!! Never Jump to Conclusion & Make Your Assumptions, without thoroughly understanding your target/targets demands! Tuesday, August 27, 2013
  24. 24. Picking the right target does matter notice the distance of P&Q from both graphs? Graph A: targets have less interest in what you can offer and only willing to pay a very low price Graph B: targets are fond of you. they are willing to give up equally as much as you can provide. Q* P Q P QQ* P* P* Graph A Graph B Tuesday, August 27, 2013
  25. 25. The Slope Matters The stiffness of the slope indicates different condition in the dating game It indicates deferent types of target/targets you are dealing with do they have high market value, where tons of people are going after them, or Low market value, where nobody care to lay an eye on them Your market worthiness in the dating game Are you extra ordinary enough that you are the “one and only” type of people that everybody adores or you are some typical guy/girl in the street and anyone can replace you Tuesday, August 27, 2013
  26. 26. The Slope notice the area size of P1Q1 vs P2Q2? Larger area size = higher satisfaction for both parties Graph A: targets have lots of selections other than you, you can be substituted anytime. Between you and your competitors, whoever accept cheaper P and willing to supply more Q, whoever will get higher satisfaction. You are too ordinary, highly replaceable. To get satisfaction, you have to supply lots of effort, Q2, (@ point X) but you can only get low attention, P2, from your targetsQ1 P Q P1 Graph A P2 Q2 Point x Tuesday, August 27, 2013
  27. 27. Picking the right target does matter P QQ* Graph B Q1 P1 P2 Q2 notice the area size of P1Q1 vs P2Q2? Larger area size = higher satisfaction for both parties Graph B: Compare with graph A, targets have only a few of selections including you. You are hardly replaceable. You are extra ordinary, your targets need you a lot. To get satisfaction, you don’t have to supply a lot of effort, Q2, (@ point Y) but you can get high attention, P2, from your targets Point y Tuesday, August 27, 2013
  28. 28. Size does Matter! you are replaceable you need to give a lot of effort to obtain higher total satisfaction (Compare blue box & orange box) You are lowly demanded by your target/ targets (compare yellow box in graph A & B) P Q P Q Graph A Graph B Q* P* Q* P* you are hardly replaceable you don’t need to supply a lot of effort to obtain a higher total satisfaction (Compare blue box & orange box) You are highly demanded by your target/targets (compare yellow box in graph A & B) How your start your first step determines your business journey, when all else equal Tuesday, August 27, 2013
  29. 29. Self evaluation Knowing yourself better is often useful, so that you can make sure whether your target/targets are compatible with you. Both of you can gain equal benefits from one another. That means, “fair”, and “less stress” in the relationship. Area that you should know about yourself: physical appearance, wealth, social status, social grace, knowledge, inner person, values, mind set, believes, etc Tuesday, August 27, 2013
  30. 30. Product Development With enough information about your target/targets demands, what you want, and about your capability, develop yourself, and equip yourself with some skills Conversation skill Making friends skill Make yourself look presentable Compare with your competitors, what you have they don’t have, or vice versa make improvements on your weakness & bad habits, **before that, you need to understand yourself thoroughly first Consider reasonable advises from others Tuesday, August 27, 2013
  31. 31. A Reasonable Business seek for a reasonable balance evaluate what you can offer (including money), and how much you can achieve to satisfy/suit your target/targets’ needs/desires/satisfactory reasonable, go ahead!! extremely difficult, for example, you need a brand new self, put it a halt till you are capable to, or seek for a new target Tuesday, August 27, 2013
  32. 32. Marketing manage informations about you your social media content what you want people to know about you build yourself a good public image looks presentable, well mannered, well behaved, aware of your body language @ all time Make yourself known build your network, know more people and broaden your chances to spot targets Tuesday, August 27, 2013
  33. 33. Marketing make yourself easy to be reached answer your calls, and call back if you miss it make your time flexible, to maintain high availability for dates allow your target/targets to know your time so that they know how to adjust theirs. try to schedule another time if you are not available to meet your target/targets Tuesday, August 27, 2013
  34. 34. Marketing release “signals” to your target/targets, “you are single and available” signals = body language and hints during conversations You don’t have to announce to anyone you come in contact that you are seeking for a date Allow your target/targets to evaluate you what they think about you: good and bad, weaknesses and strengths accept it and review your performance. Make reasonable improvements Tuesday, August 27, 2013
  35. 35. Marketing Test market/stimulate market/reheat your “brand”: when your business is “idle”, you need to do something!!! Initiate some “special offers” or “promotion” make an effort to please your target/targets by little surprises, special dinners, special gifts, showing extra concerns about the incidence or problem your target/targets facing, sweet talk, presents for your target/targets family, etc. Like any marketing campaign out there! creativity is crucial! Tuesday, August 27, 2013
  36. 36. Sales talk Read your target/targets like a book learn to detect body language and respond effectively Learn to read facial expression and respond effectively Improve your listening skills pay attention and stay focus Maintain eye contacts Be patient, don’t try to sell yourself instead, release information about the similarities you share with your targets during your conversation Tuesday, August 27, 2013
  37. 37. Team work You need friends make friends with your target/targets friends, so that they would support you, give you valuable information, and won’t talk bad about you allow your friends to know your target/targets, so that they can support you at times Tuesday, August 27, 2013
  38. 38. Quality Control Accept criticism and make improvements appropriately Maintain your performance at a good level and be consistent Don’t give up easily Make sure you deliver what you promise. Tuesday, August 27, 2013
  39. 39. Manage your business P Q* P* Don’t forget, in time, demand curve shifts, and there are risks that it could shift to left, or become flatter. Therefore, Increase/maintain the size of the total satisfaction area = Make your “business” grow (better marketing, better sales talk, better quality, etc) = improve stiffness of the demand curve + decrease the risk of lower demand Tuesday, August 27, 2013
  40. 40. Finance There’s no free lunch! You want to maximize your total satisfaction, it cost you time, efforts, passions, energies, money, and spirit! Understand what “opportunity cost mean” Manage your money, how you spend and how you save spend carefully but not stingy make sure you generate sufficient income, energy, passion to support your “business” Stay healthy, eat right, rest well, work smart If you cannot support your “business” anymore pick a new target Tuesday, August 27, 2013
  41. 41. Opportunity Cost Any decision you make, any action you take, you are giving up the second best option, and that will be your opportunity cost. Opportunity cost high = the option you have given up is something that is highly important to you or it might bring you a greater potential of better outcome in future that you are yet to realize. Do your best to reduce the risk of high opportunity cost Be rational, do not let your emotion and feelings take over your decision making! mind your speech, mind your attitude, mind your step!! Tuesday, August 27, 2013
  42. 42. Final Tips P Q P* Q* ceiling price quantitywall Keep in mind demand curve moves, and fluctuates! Using ceiling price & quantity wall to maintain a gap Aware! Ceiling price and quantity wall too far from the equilibrium P*&Q*= smaller total satisfaction area = lesser happiness If you have tried your best to manage your “business” and yet the demand curve keeps shifting to the left, adjust your ceiling price and quantity wall accordingly. If the demand is increasing, and becomes quite stable, you can start loosening up your quantity wall and ceiling price closer to the equilibrium point P*&Q*. Tuesday, August 27, 2013