Online Newsletter for Call
Rosanne D'Ausilio, Ph.D. Editor and Publisher
Volume VIX, Issue 7
Date: July 1, 2008 - Purchase Decision Influences in 2008
Source: NACC, Volume 3, Issue 12, June 2008
As you can see, the majority of respondents
cited Price as a major factor influencing their purchase decisions in 2008. With
economic uncertainty and the effects of the weak U.S. dollar on monetary
markets, savvy managers have to consider price at the top of the list of
Second in importance was the reputation of the company. This was somewhat surprising to this surveying organization.
However, I would add that to me company reputation falls into the ‘service arena’ and it makes perfect sense to me.
If I’m going to buy based on price then I also want to know that the company has a reputation for service and that it’s going to be around if I need them not just today but into the future. These two influencers equal 78.4%.
I don’t know about you but for me, the reputation is just as important as the price. I may even pay a few pennies (or dollars) more for a company that I am familiar with, rather than be governed by the dollar sign.
I recently bought a blender from a small, local appliance store. The owner, Rick, took care of me. He opened the box, put together the parts, plugged it in, and demonstrated how to use it. I know if I have a problem with this blender, there is a face, a person, Rick, who I can return it to and get satisfaction.
I had the option of going to a Costco or Sam’s Club and maybe get a better price but the nearest location is one hour away. Do I want to spend the time (and gas) and maybe not get what I want? Very simply, no.
Now it so happens that I went with a friend to Costco subsequent to purchasing my blender. The blenders at Costco were $15 more than the one I purchased. Interesting. You pay to belong to a Costco type establishment and pay for the privilege of overpaying? Now I know there are some items that are less expensive. Almonds, for example, are much cheaper there. Would I make a special trip there for nuts? No I wouldn’t.
A decade ago, trade shows were a critically
important factor in any company’s sales efforts. It was a chance to meet
prospects face-to-face and to demonstrate your product’s capabilities. Now
websites replace trade shows but neither hold much sway over buyers.
The good news is that there is still purchasing activity in the market, but the factors that influence those purchases are changing with the times
© 2008 Human Technologies Global, Inc. All rights reserved. www.human-technologies.com
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