1 / 18

Buying Motives & Comparison Shopping

Buying Motives & Comparison Shopping. Introduction to Business & Marketing. Today’s Objectives. Understand consumer buying motives. Compare 11 common buying motives based on consumer reasoning Practice comparison shopping in order to determine the best buy among products and services.

duy
Download Presentation

Buying Motives & Comparison Shopping

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Buying Motives & Comparison Shopping Introduction to Business & Marketing

  2. Today’s Objectives • Understand consumer buying motives. • Compare 11 common buying motives based on consumer reasoning • Practice comparison shopping in order to determine the best buy among products and services.

  3. The Main Idea • Customers buy products and services to satisfy their needs and wants • The rational behind making a purchase is different depending on the product or service

  4. Buying Motives Reasoning vs. Emotion

  5. BUYING MOTIVES • A 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

  6. RATIONAL BUYING MOTIVES • Health • Comfort • Quality • Safety/Protection • Price • Gain • Economy • Convenience

  7. RATIONAL BUYING MOTIVES • Price: 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

  8. RATIONAL BUYING MOTIVES • Health: 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

  9. EMOTIONAL BUYING MOTIVES • Prestige • Recognition • Affection/Love • Variety • Recreation

  10. 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

  11. BUYING MOTIVES WORKSHEET

  12. Savvy Shoppers • Take their time before purchasing • Research and plan purchase • Time their purchase for best pricing • Avoid peak seasons • Avoid impulse buying • Stick to a list

  13. Comparison Shopping Smart shoppers know how to…

  14. Compute per unit cost What’s the better deal? • Sometimes prices vary by size • Read labels for the size/weight of each product • Figure out how much you are paying per unit • Peanut Butter – Brand A • 8 oz. • $1.60 per jar • Peanut Butter – Brand B • 20 oz. • $3.00 per jar

  15. Compare Sales • Promotional Sales • Limited-time offer that may happen once or on a recurring basis • “30% off entire store – this week only!” • Store coupons • Clearance Sales • Final offer used to quickly sell the remaining stock of products • “30% off the lowest marked price”

  16. Research Products Types of Merchants • Full-service • Discount • Specialty • Outlet • Supermarket • Warehouse • Convenience Stores

  17. Review Assurances • Warranties • Costco vs. Best Buy • Guarantees • Satisfaction Guarantee?

  18. Buying Motives Activity • Review the 13common buying motives we discussed • 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

More Related