Friday, June 10, 2016

Weighing Our Options-The Mental Transactions of Purchase

People who walk into a store and buy a product may do so based on emotion but do calculate the cost of the product before making a purchase. Understanding what goes through a person's head before they make the final decision and head to the counter can improve sales and customer satisfaction.

We only make so much money in a year. Whether it is 40K or 100K, we have to make choices over our limited resources. Each product takes away from our pot and limits our ability to purchase and do other things. Savings....well.....thats not even in the calculation most of the time!!!

For example, you have fruit for sale and you want people to purchase. They may scan whether or not they want that item, need that item, and how that item feels to them. Within seconds they assess their craving for the item and whether or not it is worth further exploration. If it isn't they move down the isle but it is they begin another process.

Once they determine whether the product has emotional or utility appeal to them they will assess their resources. They assess the amount of money they have, their lifestyle, options, and possibilities. Assuming that they assess the product to be worth the amount of time, effort, and options they have available they will make a purchase.

Just about everything we purchase is based on our options and resources. We may be attracted to these products based on need but must evaluate the cost of making such purchases. To attract customers and raise purchases means enhancing the value of those products through improving its appeal.

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