http://agilebizdev.com/buyer-psychology/ Best Practices • Architecting Revenue and Profitability • Sales & Marketing Methodology Sun, 20 May 2012 19:36:41 +0000 http://wordpress.org/?v=2.2.1 http://agilebizdev.com/buyer-psychology/#comment-128 Christopher Payne-Taylor Sun, 21 Nov 2010 19:47:46 +0000 http://agilebizdev.com/buyer-psychology/#comment-128 I think it's essentially a perceptual issue. There is a difference between what buyers “like” and values perceived to be associated with a particular product, and that difference is often significant enough to substantially affect the purchasing decision. For instance, I “like” the Ford Mustang and the latest model looks great to me. With a 4.0-liter SOHC V6 engine generating 210 horsepower standard at a price point at just over $21K, I really do like this car. However, my eye is also trained on the Honda Civic SI couple with a 2.0-liter K20Z3 engine generating 197 horsepower at a slightly higher price point of 22K flat. If I were buying solely based on what I “like,” I’d choose the Mustang. It’s definitely a cooler car guaranteed to make me look cooler, but my impression of Honda in general is that they make better-built, more reliable vehicles and I believe the Honda Civic SI is no exception. Therefore, I am going to buy what I perceive to be the better value, even though I like the other car more. From a marketing perspective, the objective is not to strive to get potential consumers to like anything. Instead, the emphasis is on building brand affinity, or establishing awareness in order to drive the target demographic not to like something, just be drawn to it. This is particularly important in some product categories, like refrigerators, where the “like” factor has inherently less play than the perception of which is the best machine. On a broader level, the disparity between what a person may “like” and perceive to be of value, is virtually universal, extending into areas in life not typically associated with marketing and sales. For example, many people like paintings of sea gulls and the seashore. However, even most seascape aficianados agree that these works are in an entirely separate league from a Vermeer or Rembrandt, a fact reflected in the enormous pricing differential. Net-net, just because you like something doesn’t necessarily mean you want to, or should, buy it. You may enjoy dating someone, but marriage is a different matter altogether, and the biggest catastrophes tend to occur when people confuse the two. I think it’s essentially a perceptual issue. There is a difference between what buyers “like” and values perceived to be associated with a particular product, and that difference is often significant enough to substantially affect the purchasing decision.
For instance, I “like” the Ford Mustang and the latest model looks great to me. With a 4.0-liter SOHC V6 engine generating 210 horsepower standard at a price point at just over $21K, I really do like this car. However, my eye is also trained on the Honda Civic SI couple with a 2.0-liter K20Z3 engine generating 197 horsepower at a slightly higher price point of 22K flat.
If I were buying solely based on what I “like,” I’d choose the Mustang. It’s definitely a cooler car guaranteed to make me look cooler, but my impression of Honda in general is that they make better-built, more reliable vehicles and I believe the Honda Civic SI is no exception. Therefore, I am going to buy what I perceive to be the better value, even though I like the other car more.
From a marketing perspective, the objective is not to strive to get potential consumers to like anything. Instead, the emphasis is on building brand affinity, or establishing awareness in order to drive the target demographic not to like something, just be drawn to it. This is particularly important in some product categories, like refrigerators, where the “like” factor has inherently less play than the perception of which is the best machine.
On a broader level, the disparity between what a person may “like” and perceive to be of value, is virtually universal, extending into areas in life not typically associated with marketing and sales. For example, many people like paintings of sea gulls and the seashore. However, even most seascape aficianados agree that these works are in an entirely separate league from a Vermeer or Rembrandt, a fact reflected in the enormous pricing differential.
Net-net, just because you like something doesn’t necessarily mean you want to, or should, buy it. You may enjoy dating someone, but marriage is a different matter altogether, and the biggest catastrophes tend to occur when people confuse the two.

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