To us optimists, yesterday’s 5% fall in Tesco’s share price was hopefully the result of some profit-taking, with plenty of slow upside as the market absorbs the significance of the change in Tesco’s relationship with suppliers and shoppers…
No-one will ever be allowed to forget the money again, but the emphasis in now on rebuilding trust at both ends of the Tesco candle, and no taking of supplier-prisoners…. i.e. any tin-content issues will be ‘cullable’ offences
A reminder of the basics…
According to changingminds, trust is about:
1. Predictability
Trust means being able to predict what other people will do and what situations will occur i.e. less time spent second-guessing and checking compliance
2. Value exchange
Trust means making an exchange with someone when you do not have full knowledge about them, their intent and the things they are offering to you i.e. a simple buffer-free offer from both sides, with minimal just-in-case complexity
3. Delayed reciprocity
Trust means giving something now with an expectation that it will be repaid later i.e. no need to open the tin in the store
4. Exposed vulnerabilities
Trust means enabling other people to take advantage of your vulnerabilities - but expecting that they will not do so
How consumers manage trust
- Get it right, and they may tell a friend
- Get it wrong and they will certainly tell ten…
BTW, in case of any delay in achieving 100% trust-distribution, best to keep in mind that under the skin we are all third parties, however close the relationships…
No-one will ever be allowed to forget the money again, but the emphasis in now on rebuilding trust at both ends of the Tesco candle, and no taking of supplier-prisoners…. i.e. any tin-content issues will be ‘cullable’ offences
A reminder of the basics…
According to changingminds, trust is about:
1. Predictability
Trust means being able to predict what other people will do and what situations will occur i.e. less time spent second-guessing and checking compliance
2. Value exchange
Trust means making an exchange with someone when you do not have full knowledge about them, their intent and the things they are offering to you i.e. a simple buffer-free offer from both sides, with minimal just-in-case complexity
3. Delayed reciprocity
Trust means giving something now with an expectation that it will be repaid later i.e. no need to open the tin in the store
4. Exposed vulnerabilities
Trust means enabling other people to take advantage of your vulnerabilities - but expecting that they will not do so
How consumers manage trust
- Get it right, and they may tell a friend
- Get it wrong and they will certainly tell ten…
BTW, in case of any delay in achieving 100% trust-distribution, best to keep in mind that under the skin we are all third parties, however close the relationships…
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