introduction to business & marketing. today’s objectives o understand consumer buying motives....
TRANSCRIPT
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 wants
o 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 buy
Rational Motives – conscious, logical
reason for a purchase
Emotional 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 MOTIVES
o Health
o Comfort
o Quality
oSafety/Protection
o Price
o Gain
o Economy
o Convenience
RATIONAL BUYING MOTIVESPrice: the purchase is a good value and priced attractively
Ex: buying groceries or home products
Gain: the purchase will earn money
ex: buying a computer to expand a business
Economy : the purchase will help save money
ex: buying an economy car to save money on gas
Convenience: 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 shape
Comfort: 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 Prestige
o Recognition
o Affection/Love
o Variety
o 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 purchase
o Time their purchase for best pricing
o Avoid peak seasons
o Avoid impulse buying
o Stick to a list
COMPARISON SHOPPINGSmart shoppers know how to…
COMPUTE PER UNIT COSTo Sometimes prices vary
by size
o 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 Buy
oGuaranteeso 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