In: Finance
According to the buyer resolution theory, a purchase is made only after the client has made five buying decisions.
What are they and how does this help the salesperson to assist the client?
Successful salespeople have also adopted a product strategy that involves the discovery of buying motives that influence the purchase decision. Distinguish between the emotional and rational buying motives of a client.
Please discuss these items in detail
A Buyer resolution theory is a marketing theory that states buyer purchase behavior relies on an individual's mental process that involves resolving five specified issues
1)Need (why should i buy?)
2)Product (what should i buy?)
3)Source (where should i buy?)
4)Price (what is a fair price?)
5)Timing (when should i buy?)
A buyer will always consider the product from their own point of view.However,this is where brand marketers can present positive concepts and in turn manipulate customer perceptions.
in the past sales teams were trained to focus on the product without giving much thought to the customers perception of an item,how it would benefit their lives,or provide convenience, etc.in the past few years,the trend has been for sales people to be engaged in conversations with prospective customers where the sale person does more listening and less talking.this provide important clues that leads to opportunities for sale people to suggest product or services that will benefit the customers based on the job they do,a certain life style hobby or interest.
However ,not all prospects are willing participants and will display fairly predictable resistance,which is most times fueled by suspicion.they fear that anything said by a sales person is solely to sell them a product they do not need.This is where some sales people fail in their attempt to help customers become aware of a need.The key to making a sale is in understanding the customer better than your competitors
Emotional and Rationale buying motives:
There are a few differences between rational motives and an emotional motive
Rational buying: it is the kind of buying where the buyers make decisions according to logical reasons. they weigh all of the factors that are associated to the buying procedure.Rationale motives are based mainly on objective criteria such as
Emotional buying:in this customer is over shadowed by his emotional senses to buy that product and fails to look at the logical part of bargain such type of buying occurs pure out of desire and wants rather than needs.Emotional motives imply the selection of goods fitting to personal or subjective criteria such as