BUYING MOTIVES & COMPARISON

SHOPPINGIntroduction to Business & Marketing

TODAY’S OBJECTIVESoUnderstand consumer buying motives.

oCompare 11 common buying motives based on consumer reasoning

o Practice comparison shopping in order to determine the best buy among products and services.

THE MAIN IDEAoCustomers buy products and services to

satisfy their needs and wantso The rational behind making a purchase is

different depending on the product or service

BUYING MOTIVESReasoning vs. Emotion

BUYING MOTIVESA salesperson must know what

motivates customers to buyRational Motives – conscious, logical

reason for a purchaseEmotional Motives – a feeling

experienced by a customer through association with a product

Patronage Motives - a reason to purchase from a specific place of business

RATIONAL BUYING MOTIVESo Healtho Comforto QualityoSafety/Protection

o Priceo Gaino Economyo Convenience

RATIONAL BUYING MOTIVESPrice: the purchase is a good value and priced attractively

Ex: buying groceries or home productsGain: the purchase will earn money

ex: buying a computer to expand a businessEconomy : the purchase will help save money

ex: buying an economy car to save money on gasConvenience: To save time and to make things easier

ex: a GPS system in your car

RATIONAL BUYING MOTIVESHealth: a purchase made to improve your health

ex: joining a health club to get into shapeComfort: a purchase made to be physically comfortable

ex: owning a down comforter Quality: a purchase made based on quality or service

ex: buying organic produce Safety & Protection: a purchase made to feel safe

ex: an alarm system in your home

EMOTIONAL BUYING MOTIVES

o Prestigeo Recognitiono Affection/Loveo Varietyo Recreation

EMOTIONAL BUYING MOTIVES

Prestige: a purchase made based on desire to look and feel important ex: owning valuable jewelry, designer handbag

Recognition: The desire to be noticed ex: a tattoo

Affection & Love: a purchase for those we care about ex: flowers or an engagement ring

Variety: a purchase made to have change in our lives ex: owning the same shirt in 5 different colors

Recreation: spending money on activities we enjoy ex: lift ticket for snowboarding

BUYING MOTIVES WORKSHEET

SAVVY SHOPPERSo Take their time before purchasing

o Research and plan purchaseo Time their purchase for best pricing

o Avoid peak seasonso Avoid impulse buying

o Stick to a list

COMPARISON SHOPPINGSmart shoppers know how to…

COMPUTE PER UNIT COSTo Sometimes prices vary

by sizeo Read labels for the

size/weight of each product

o Figure out how much you are paying per unit

Peanut Butter – Brand A8 oz.$1.60 per jar

Peanut Butter – Brand B20 oz.$3.00 per jar

WHAT’S THE BETTER DEAL?

COMPARE SALESo Promotional Sales

o Limited-time offer that may happen once or on a recurring basis

o “30% off entire store – this week only!”

o Store couponso Clearance Sales

o Final offer used to quickly sell the remaining stock of products

o “30% off the lowest marked price”

RESEARCH PRODUCTSTypes of Merchants

Full-service Discount Specialty Outlet Supermarket Warehouse Convenience

Stores

REVIEW ASSURANCESoWarranties

o Costco vs. Best BuyoGuarantees

o Satisfaction Guarantee?

BUYING MOTIVES ACTIVITYo Review the 13 common

buying motives we discussed

o Using either magazine clippings and poster board or a Power Point slide, find an image of a product a consumer might buy based on each buying motive