Leather Care Forum
Ten Basic Principles of consumer behavior that will help you make money, part one
A good way to start the year business is to remind us of how unpredictable consumer behavior. The more we understand why people buy what they do, better we can tailor our marketing messages. It has 10 bases of consumer behavior, which can help you make money, I'll post today cover five of them, and in the second part I will talk about the second series of five.
Understanding why people buy when they are not an easy task, however. The field of behavioral economics revels in marketing research and can give us an idea. Here are ten things we know about consumer behavior, and how you can put to use as owner SMEs.
Principle One: the need to express individuality is a critical factor that influences the choice of brand that someone will buy. What does this mean? Well, if you have this type of consumer on your hands, you want to offer a product or a service that seems very unique and individualized to the person. If you sell braided leather bracelets, for example, that person will want a leather strap that is not braided, or skin color, or a braided bracelet with a personalized charm to the end. If you sell cleaning services offering a menu of tasks you do and ask that person to customize their own home they feel they get a single "brand."
Tenet Two: Keep it simple. Too many choices confuse a buyer, and as I have preached for years now, a confused mind does not buy. If you offer 17 different products and services, simplify to a maximum of three. Group your products and services by major category and the buyer to choose what she most needs. A few weeks ago, I met the owner of a concierge service and asked his business. To my horror, she said with enthusiasm: "We can do whatever you need." It does not help most buyers, who will quickly glaze over and not be able to think to what they need at this point in time. A better answer would be: "We take care of shopping for gifts, office organization, and planning the party. "The spirit of the buyer will then sort and landing on something she has recently required that falls in one of these categories. Give the buyer a place to land and you do a better job of selling.
Tenet Three: lures when you pack your options. Say you offer three different options for Cleaning The House. Take the middle option package that you really want to sell more. The Most people will choose the middle option, not wanting to go to the cheapest option, but absolutely unwilling to spring for the very highest, whatsoever. So, make the middle option that you really want to sell, one that is most beneficial to you. The others are essentially decoys.
Another way to use a lure is in fact the use of a competitor's product or service against yourself. Focus on value added or benefits that you and your competitor does not. For example, you can sell a product facial care is not so different from another product – but yours may provide 20% more product for the money. Or we may have an additional advantage that the "illusion" of competition has not.
Principle Four: You set the anchor for your price. In retail operations, the suggested retail price is the anchor, the price you want a buyer to compare your property with others, they can buy. In nonprofit organizations, you set an anchor point by suggesting levels to yield to a campaign. It is also possible to re-anchoring of price change and waiting for a buyer. One of the most familiar and successful re-anchoring is when Starbucks began. Starbucks re-anchored the price of a cup of coffee more than it was in any establishment of coffee buyers to convince others that the coffee and the experience was worth much higher than in a McDonald's or a Dunkin 'Donuts.
Tenet Five: How are you all what you propose is a big difference. In marketing, this is called transfer sensation. This means that buyers will be transferred to the feelings they have about the packaging of a product or service to the element itself. For example, people report that the food served on a paper plate is not as tasteful as the food even served on a china plate. The packaging of the china plate transfers better feeling. Brandy and perfume manufacturers depend heavily Transfer sensation. You've probably already heard that the design of a bottle of perfume is often more expensive than the design of the perfume itself. Packaging makes all the difference in the success or failure of this particular scent.
There are several ways you can use packages to help your sales. If you are a residential property developer, the package may include an entry for your neighborhood novelty. If you are a coach, packaging could mean that the premiums again, you offer people to work with you – things like a personal planner, a private forum, a special event offered free as part of the package of coaching offer.
Think about how you can put these basic principles to work for you, and in the second part, you will discover five principles.
(C.) Sue Painter
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