Buying Motives in Marketing

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Questions and Answers

What is a buying motive?

A social trend influencing purchases

The price point of a product

An emotional response to advertising

The reason/motivation for seeking out a product (correct)

What type of buying motive focuses on needs such as food and safety?

Psychological

Emotional

Physical (correct)

Rational

What characterizes an impulse purchase?

Made after thorough research and planning

Loyalty to a specific brand is essential

Requires consultation with consumer reports

Involves little planning or research (correct)

Which of the following pairs represents emotional and instinctual buying behaviors?

Rational versus Emotional Signup and view all the answers

Which type of purchase requires the most research and planning?

Extensive purchase Signup and view all the answers

What is an example of a product that fulfills psychological needs?

An Apple iPhone Signup and view all the answers

What is a key feature of routine purchases?

They are made quickly with no thought. Signup and view all the answers

Which of the following best describes a limited purchase?

Is made with consultation of consumer reports Signup and view all the answers

Why is it important for sales personnel to understand buying motives?

To avoid wasting time with browsers Signup and view all the answers

What kind of purchase is a customer making if they state they are looking to have their social needs fulfilled?

An emotional purchase Signup and view all the answers

Why do companies still need to market impulse purchases?

To compete with others in the industry. Signup and view all the answers

In which situation would a sales representative ask about a customer's motives for product versus patronage?

Inquiring about the type of purchase the customer wants Signup and view all the answers

Which of the following is NOT a feature of patronage purchases?

Product features Signup and view all the answers

What could be a consequence of not understanding the emotional buying motives of customers?

Potentially missing opportunities to sell high-priced products Signup and view all the answers

The statement 'Just a phone; no comparison between the two products' refers to which brand?

Apple Signup and view all the answers

What factor does NOT influence the decision for extensive purchases?

Impulse buying convenience Signup and view all the answers

Study Notes

Buying Motives

Marketers categorize human needs and wants into buying motives which explain the reasons for seeking products.
Understanding buying motives is crucial for sales personnel to tailor their approach and ask relevant questions.
Buying motives are categorized in pairs: physical vs. psychological, rational vs. emotional, and product vs. patronage.

Physical vs. Psychological Motives

Physical motives focus on basic needs: food, shelter, safety (e.g., buying a condo or security system).
Psychological motives center on social needs: distinction, prestige, recognition (e.g., purchasing luxury brands like Apple or Rolex).
Identifying the type of purchase can guide consumers to appropriate options; for example, luxury car dealerships for emotional purchases.

Rational vs. Emotional Motives

Rational motives are based on logical reasoning such as features, durability, and price (e.g., choosing a Toyota for reliability).
Emotional motives are driven by instinct and impulse, focusing on popularity and adventure (e.g., desiring a Lamborghini for thrill).
Asking customers whether they are making a rational or emotional decision helps in effective sales conversations.

Product vs. Patronage

Product motives relate to the specific features of a product including quality, design, and brand (e.g., choosing an iPhone for its features).
Patronage motives involve the buying experience, like store location and service (e.g., TD Bank providing free coffee).
Recognizing whether a customer is looking for a product or a particular shopping experience aids in customer satisfaction.

Types of Purchases

Purchases can be categorized based on the time spent conducting research before buying:
- Impulse Purchases: Quick decisions made without planning, often triggered by product placement at checkout.
- Routine Purchases: Frequent buys made with loyalty to a brand, requiring no research or thought.
- Limited Purchases: Involving some research and comparison, made when trying a new or unfamiliar product.
- Extensive Purchases: Significant financial decisions mandating thorough research, planning, and potential financial discussions.

Marketing and Impulse Purchases

Companies must still market impulse purchases to remain competitive and create brand recognition.
Effective marketing ensures that brands remain top-of-mind for consumers, influencing spontaneous buying behaviors.

Monopoly and Google

A monopoly is a market structure where a single seller dominates the market, controlling prices and supply.
The question of whether Google operates as a monopoly involves discussions of its market power and the benefits of such dominance, including innovation and consumer convenience.

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Description

This quiz explores the various buying motives that influence consumer behavior, including physical vs. psychological and rational vs. emotional motives. Understanding these concepts is essential for marketers and sales personnel to strategically approach potential customers. Test your knowledge on how different motives affect purchasing decisions!