This article contains Common Reasons Why People Buy Products And Services. In a changing environment, companies have to make changes to keep up to date. These changes may await events or anticipate them.
Obviously, the company that has established sound procedures for anticipating and preparing for changing needs is likely to be in a strong position to cope with changes in products and product design. Changes in customers’ tastes can cripple any company that is not prepared for them.
To identify business opportunities, there is need to find out the reasons why people will like to buy goods or pay for any service. Here are some reasons why people buy products and services;
TEN COMMON REASONS FOR BUYING PRODUCTS AND SERVICES
1.) Meets a need – The greater the need, the easier the sale. For example, you cannot make
omelettes without first buying some eggs. When the need is compelling and urgent, sales is easier to make.
2.) Highly desirable – you don’t need it all the time, but right now it s really appealing and
readily available. This Is why ice cream sells well on the beach and in the hot weather.
3.) Affordable – Your customer can manage the payments, either in one lunmp or by installments.
4.) Safe – Your product is reliable and perhaps reduces risk; insurance example.
5.) Performance – It does what it says on the box. Reputation and evidence of the success
of others is a good way to communicate good performance.
6.) Appearance – It looks good. Given the choice, no one would buy a product if one that
looked more appealing was available.
7.) Convenience – It’s there, close and handy. Supermarkets and retailers score simply by
being closest to the customer’s home.
8.) Economy – Once you have bought it, the question is how cheap will it be to run? Clearly this is true of cars but it’s also true for products such as paint, where cheaper paint doesn’t cover as large an area as one containing more pigment.
9.) Durability – The lifespan of a product often dictates its value for money. The cheapest often does not last long as the most expensive.
10.) Peer pressure – If everyone else has one, you want one too. This applies to business purchases as well as those by consumers. No one likes to be left behind.
People do not buy products and services; they buy what those products and services will do for them. These are called benefits.
Recommended: 10 Easy Ways To Make Money Through Social Media
This means that besides needs, People also need benefits. It is sometimes difficult to focus on benefits, for, as a producer, you focus on your product’s features. Some even focus on the profit they will make instead of focusing on satisfying the customers’ needs.
These ten reasons for buying stated above is something every producer should know.