Think Twice Before You Open Your Wallet

Do you think the company charges you the right amount of money? I DO NOT! 

Corporations do not care about how much money they charge you. Actually, they will like it even more if you pay too much because it will bring them more profits. That is the reason why they do not come to you and give your money back willingly even if you pay extra. 

Notorious Bills from Comcast

[Extra Hidden Fees for $159.95 Comcast Bundle]

Comcast is the greatest example of this term. The company hides anonymous fees that are not or cannot be explained to the customer and charges these to the customer. Moreover, even though there is a way for the customer to reduce the fee for renting a modem, which is to purchase one for less than $100, the representative will not tell them - because renting a modem for $10 a month will make Comcast’s pocket thicker. 


Four Principles to Keep in Mind 

To protect yourself from getting ripped off by greedy corporations, there are four things that you need to always keep in your mind. 

1. Do not trust corporations

Whenever you purchase something and sign a contract, such as for a loan for your car or mortgage, NEVER EVER think that the corporations have already dealt with everything for you because they will not. So, do not just sit and nod your head about everything on the paper. Make sure you always thoroughly read what you are getting yourself into. 

2. Check your bill before you pay

Like I previously said from the Comcast example, it is highly possible that you might pay for something that you are not even aware of or something that you do not even need to pay for. Thus, you should always make sure you check your bill before you pay. 

3. Questions? Ask!

While reading through the forms that you have to sign for a car loan, a small bill for subscribing to cable or the internet, or even from the grocery store, if you run into a question, NEVER hesitate to ask. Do not wait for the representative to explain every single cost to you. Do not expect them to tell you how to reduce the cost. Do not expect that they charged you the right amount. You should be the one who asks questions about purchasing a modem instead of renting it. Don’t you think you should know where every single penny of yours goes? 

4. Do not set up automatic payment

This is a typical way to cause people to not pay attention to their bills because the money goes out automatically. It will make you to reach the point where you do not even remember the payment date, and you do not even notice if you are getting charged extra. Thus, avoid automatic payments and ALWAYS read your bills before you pay. 

Concluding with J.D. Roth "The Secret to Saving"

[J.D. Roth "The Secret to Saving: Think Before You Spend"]

This article is about correct purchasing behavior. It gives you some questions to think about before you make purchases, and I thought the questions are applicable even when you are looking through loan contracts or bills. So, it is totally worth the read! 

To Corporations: It’s Time for You to Change

While carrying out a project on the practices of the customer service/experience in the business field for one of my classes, I discovered a very interesting factor about “big” American corporations. THEY DO NOT CARE ABOUT THEIR CUSTOMERS AS MUCH AS THEY PROMOTE!

I am not racist or a nationalist. However, compared to the customer service that I received from corporations while growing up in Korea, I could not hide my disappointment toward American corporations. 

Customer Changes 

When industrialization first started, the customer only focused on the quality of the product. Thus, if the company provided a good quality product, they perceived the company as it is fulfilling its obligation. However, gradually customers started to not only look at the product but also to value the service that they received from the company. 

Samsung's Customer Service

[Image via Samsung]

Korean corporations sensed the changes within the customer culture, and improved the customer service/experience to meet the customer’s needs. For instance, one of the reasons why Samsung became successful in Korea is due to its customer service/experience. If the customer has any problems with any products from Samsung, he or she can call anytime to request technicians. Once the appointment is made, the technician is never tardy and never miss their appointments without prior notice. If it is a remote troubleshooting for a device like a laptop or desktop, the technicians will be available as soon as the customer calls the representatives. Through this service, customers feel like they are being treated right, trust the company, and become loyal. 

Apple's Customer Service

Compared to Korean corporations, many American corporations have not improved the customer service/experience even though the customers' needs have changed, and still act like a “king” towards their customers. 

[Image via Apple]

Let’s compare Apple to Samsung. When I first bought my 13-inch Macbook Air, I ran into a problem within the first two weeks. The display kept getting turned off randomly. I took it to the Apple store to fix it (I totally understand if the company cannot send technicians, but what about trouble shooting?), it took an entire day for the technician to check. Since the technician could not figure out what was wrong, the laptop was sent back to China to get fixed (due to the manufacture location). It took about three weeks until I got my laptop back. It was not a pleasant experience at all because I needed my laptop for school purposes. Moreover, instead of the company letting me know the process for fixing my laptop, I had to call the company constantly to check on the process. Did the representative apologize to me about the delay or offer to update me on the process through email? NOPE! There was none of that. 

Concluding with John Gerzema "The Post-crisis Consumer"

This is John Gerzema’s talk on Ted. He is an expert in consumer behavior and financial performance. He said that it is time for corporations to perceive what customers want and change and improve the service for them. Without improving the customer service/experience, it is only a matter of time before corporations will lose profits due to lost customers.