What influences your consumers' purchase? Is it economic, social, and or psychological?
There is a purpose or motive that each consumer associates with the purchase of a given product or service. In general, consumers are influenced by several elements which encourage or determine the purchase of goods and services. For example, the purchasing decision by consumers of insurance policy is mainly driven or motivated by fear; in another case, if consumers change their purchasing decisions to eat only organic foods, this nature of motive is driven or motivated by health. That is why it is so important for business owners and marketers to understand the basic buyer motives and to include this in their consumer behavior study. It is also valuable in the formulation of marketing strategies and in better responding to market changes and development.
Primarily, two basic motives influence consumers in their purchase decisions. These motives are product and patronage. The difference between the two is that product motives are linked with the purchase of a product, and patronage motives are associated with the patronage or benefaction of specific shops. Both, however, are influenced by consumers' desires, requirements, and considerations.
Both motives (product and patronage) can be emotionally and rationally influenced. Emotional motives are where the consumers do not use reason or logic behind their purchase action or selection of shop. For example, a consumer may shop at his favorite place based on personal subjective reasons, such as a specific hair salon or stylist. In this case, the consumer is persuaded to purchase from a specific shop.
On the other hand, rational motives are the opposite; here, consumers logically analyze and evaluate the product offerings, shop selections, and alternatives to meet their satisfaction levels. For example, a consumer who is searching for the most affordable flights for his family for their summer vacation. These rational decisions are evaluated based on several factors but not limited to cost, benefit, availability, varieties, customer service and after-sale services, the latest brands or trends, and location.
In conclusion, as marketers and business owners, we need to determine our consumers' basic nature of motive in their purchase decision because it plays an essential role in the lives of humans.