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Information on "Why People Buy"

by LOM
15 replies
Hey fellow warriors,

Thought I'll give a little back an share some information with ya. I've seen a lot of people trying to go out there and just sell, sell, sell, but you have to understand people and why people do certain things. I've wrote some information on it...

Enjoy!

Make sure you read this and truly understand it because it can take your business to new heights if you can understand the concept...

"You've probably heard that people buy things""


To increase enjoyment
To make things easier
To attract praise / popularity / prestige
To attract attention
To make more money
To avoid criticism
To speed up things / shortcuts


But what it all amounts to is
TWO THINGS

The gaining of pleasure, and the avoidance of pain
Pain and Pleasure
One or the other will work well. Both together will work best (the gaining of
pleasure plus the avoidance of pain)Pain and Pleasure
One or the other will work well. Both together will work best (the gaining of
pleasure plus the avoidance of pain)


Needs vs. Wants?
What do people pay more for?
Basic Needs
Convenience
Replacement
Scarcity
Prestige Aspiration
Lower prices
Ego Stroking
Peer Pressure
Reciprocity
Guilt
Addiction


Take this into consideration when considering what you want to offer as far as products and services....
#information #why people buy
  • Profile picture of the author Manuelcrc
    "Needs vs. Wants?" Some buy what they want and not what they need. I agree with you LOM and for anyone interested here's another post on Why people buy
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  • Profile picture of the author tpw
    And take it to heart and keep it in mind when you are writing your copy.

    I love the science of influence, and this outlines the basics of that science.

    Thank you for sharing.
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    Publish Coloring Books for Profit (WSOTD 7-30-2015)
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  • Profile picture of the author realtimeprospecting
    My, my, my... this is a very useful list!
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  • Profile picture of the author buychargeall
    Immediate gratification !
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  • Profile picture of the author rich8169
    Great sharing... complex topics with simplified pointers.

    Cheers!
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  • Profile picture of the author sscot
    Some people buy because they like to spend money. If I'll be able to find 100 people like that. Wow!!!!!!!
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    • Profile picture of the author ronaldmd
      Originally Posted by sscot View Post

      Some people buy because they like to spend money. If I'll be able to find 100 people like that. Wow!!!!!!!
      Actually the best is reason is addiction. If 100 people are addicted to your products, even when they don't need to buy your products, they'll buy anyway. And they'll keep buying your newer products.
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      • Profile picture of the author AdwordsMogul
        Originally Posted by sscot View Post

        Some people buy because they like to spend money. If I'll be able to find 100 people like that. Wow!!!!!!!
        Just look around you - virtually everyone is looking forward to "pay day" so they can spend.

        Most people don't wake up morning thinking "How can I re-invest my money, and increase my net worth?".

        Heck, they'll even spend money they will never have.
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  • Profile picture of the author InternetMarketingIQ
    It's all about how they feel. People will choose a want over a need given discretionary income. But sometimes they don't know what they WANT. And too many choices can backfire.

    Example: I was at Costco today... looking at the new items that came in. They now have a Digital Camera on a wand... you can stick the thing behind walls, down your engine block, etc. You can look at things that you simply couldn't see without a major amount of effort or tearing apart otherwise.

    Before I went into Costco I had never thought of this... Yes now you too can do your own home made colonscopy!!! Ha Ha!

    But actually now I want one. I certainly don't NEED one, but I do want one.

    But do I want it enough to part with the $130? Well see.

    That's not exactly impulse level spending right now, but I've bought more expensive things because I wanted them and just saw them.

    But I usually investigate things a bit before buying, to make sure I am getting a good product.

    Figuring out a persons threshold for impulse buying is golden and can really help you pull in buyers.
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    Internet Marketing IQâ„¢
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  • Profile picture of the author Amanda Craven
    Fear is one of the biggest motivators when it comes to spending psychology and it relates to that avoidance of pain principle. There's a good article on it here:

    http://www.advisor.com/story/fear-mo...rful-motivator

    One clever way fear is used when it comes to marketing is to play on the fear most of us have of being the last one to the party or being left out in some way. Think back to the playground and you'll understand just how well this one works. Then read through some effective sales letters and spot where it's used.
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  • Profile picture of the author LOM
    Those are all some excellent points! I love to see Warriors debate and mastermind together. Only the best answers are produced!
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    Ken Davis
    CEO Maybach Marketing
    http://www.maybachmarketing.com
    Blog http://www.maybachmarketing.com/blog

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  • Profile picture of the author Steven Miranda
    Some great buyer information here. thanks
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  • Profile picture of the author D37
    Really great information. Thanks this has opened my eyes a bit.
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    Thank you to everyone on WF for all the great information, help, support, and kindness you have all shared!

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  • Profile picture of the author tkramer105
    "But what it all amounts to is
    TWO THINGS

    The gaining of pleasure, and the avoidance of pain
    Pain and Pleasure"

    LOM, spot on...thanks for that!

    Amanada, you also bring up a very good point that takes us back to our primal roots.
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    Your health is your greatest wealth...!
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  • Profile picture of the author LOM
    Thanks guys, this is something that all should know. I believe the more we share the more we learn! If anyone wants to add feel free...
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    Ken Davis
    CEO Maybach Marketing
    http://www.maybachmarketing.com
    Blog http://www.maybachmarketing.com/blog

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