Buying Motives: The way to consumers heart and pocket
Buying Motives: The way to consumers heart and pocket
Marketing has been understood as satisfying the needs of customers at profit. Marketing is the process of developing the product as per the needs of market segment, pricing it appropriately so that is affordable by the selected targeted market segment, managing its physical and channels of distribution so that it reaches the target consumer and promoting the product in such a manner that target market gets properly informed about the product. The 4P's of marketing Product, Price, Place and Promotion shape the firm's marketing mix strategy. Marketing research plays a vital role in taking marketing mix decisions and establishing proper match between target market characteristics and marketing mix decisions.
Marketing Promotion mix of firm consist of Advertising, personal selling, sales promotion and publicity. The marketers use various buying motives in salesmanship and advertising to persuade and convince the customer to buy the product or service. In salesmanship the salesman sizes up the customer and utilizes various buying motives to convince him or her for buying the product or service. Buying motives are the reasons which motivate the customer to buy product or service. The rational buying motives are more important in the purchase of durableproduct. In the purchase of automobile the consumer would like to know about its durability,style, price, repairs and maintenance, after sales service and operating cost before making a purchase decision. The emotional buying motives appeal to the consumer's heart and results in impulsive purchase decision.The other buying motives are fear, price consciousness or saving, desire to look different from others. The list is endless and depends upon human emotions, sentiments and needs. The job of the advertiser or the salesman is to identify the buying motive of the customer and connect it with the benefits offered by the product or service to satisfy the buying motive. Rightly marketing is the task of satisfying the needs and wants of customers at profit. But there are few marketers who believe in creating market with their new and innovative products and services. But the importance of buying motives and their proper understanding for marketing success cannot be denied.
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