Motivations to Buying

1. Motivations to Buying

2. Environmental factors General organic states Specific conditions induced Previous events Incentives and motives People are different at different times

3. Ostensibly for some need. What is this need? Need could be at three levels Conscious Sub conscious Unconscious Why do people buy?

4. Several approaches are there, although no single approach has been universally accepted The traditional approach The problem solving approach The self-concept theory 3 approaches to buying

5. Rational Buying motives - reasons to buy, financial gain, value-for-money, fab approach – features, advantages, benefits Emotional Buying Motives – physical pleasure, comfort, avoidance of effort, play and relaxation, aesthetic pleasure, self esteem, pride, ego, power, status, imitation, acquisitiveness, romantic and sexual drives, physical and mental health, desire for new experiences, urge to create, desire for justice, sense of duty, love of others, fear or caution The Traditional Approach

6. Products are a bundle of solutions Every product/service solves a customer problem In general, the more problem a product solves, the stronger its appeal. Also the seriousness of the problem solved directly affects its attractiveness The Problem Solving Approach

7. The Real Self – what you think you are The Ideal Self – how you would like to think of yourself Self in context (the real other) – your perception of others perceptions of you Extended Self (the ideal other) – how you want other people to think of you The Self Concept Theory

8. A value analysis determines the best product for the money spent. Can be explained through product cost vs true value, unit cost and ROI Value Analysis

9. Consumer purchase decision making Need Recognition Search for alternatives Prepurchase alternative evaluation Purchase Consumption Post purchase evaluation Divestment

10. Incompatibility with self-concept Risk of moving away from the ideal self Guilt Buying motive and talking point Obstacles to Buying