[ppt]buying motives & comparison shopping - loudoun … · web viewtoday’s objectives...
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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 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
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
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
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