Buying motives are the “inner feelings” of the buyers and he tries to satisfy them at any rate to the maximum possible extent. Buying motives being model of consumer mind on specifications, play an important role in the entire scheme of selling and, therefore, production. A salesman sells those products and services wanted by the buyers and, therefore, his firm produces or stocks those that are likely or sure to be sold at profit to the owner and satisfaction or delight to the buyer. The role of buying motives can not be under-estimated. The exact role is out lined in terms of following points which are worth pondering.
1. They are the Bases in Product Planning and Development:
Product strategies are the outcome of buying motives. A seller, and, therefore, a manufacturer makes his decisions regarding market mix—of which product mix is the starting point. Product mix deals with the product variables like size, colour, design, dimensions, packing, packaging, weight, taste, brand name, after-sale-services and so on.
Here, buyers psychology has an upper hand. A wise manufacturer or trader can not afford to make available that product which is against the consumer expectations or specifications. Consumer is the Monark and his likes and dislikes, preference are to be fully understood by planning himself into the position of a customer. This understanding is the base for his company, himself in terms of survival and success.
2. They are the Predeterminants of Pricing Policies:
Product Pricing is a delicate critical yet very significant issue which is to be handled with inmost care and caution. Pricing is a big gun which makes or mars the fortunes of the firm. Any mishandling of this pricing gun will kill everyone one by one. The buying motives as they are classified will help in this regard. If the consumers are moved by the rational motives, the prices ire to be reasonably low or competitive while can be high if moved by emotional motives re cause people do not mind to pay higher prices.
3. Buying Motives are Helpful in Designing Promotional Policies:
Promotional policies and strategies hover round three important areas namely personal selling, advertising and sales promotion. These are the components of communication mix. Any wing is influenced by buying motives greatly and deeply. Salesman works on the understanding of buying motives and capitalists on them; a piece of advertisement tries to appeal to his inner 2sling by focusing on ‘U.S.P.’ unique selling proposition. Sales-promotion can not abstain from this, as it is the supplement to both personal selling and advertising. Thus, salesmen, advertisers and promoters should dance on the tight rope of buying motives where they can not afford to lose that balance.
4. Buying Motives are Planks of Distribution Policies:
Making available the most suitable goods in one thing and making them available to the customers at their convenient demand points is another. Distribution, here, refers to the movement of goods from producers to the consumers. It is worth remembering that goods move at the fiat to the consumers. Getting goods at a given point is one of the buying motives—may be rational or emotional. If door-to-door service is the demand, it has to be met; if he prefers to come to in outlet, it should be molded accordingly. Here, we can not exclude physical distribution activities of transportation and storage which meet the buying motives.
5. Buying Motives Assure Best Use of Firms Resources:
When the manufacturer goes on to produce the products of required quality specification, quantity specifications, prize expectations, distribution expectations and the way they are to be communicated, each step is taken on scientific lines that is sound planning. Sound planning is well executed and hence, the resources both physical and human are put to best use keeping lie organization, constantly adjusting to the changing colors and waves of environment. Hence, ere is optimum utilization of treasure talent and time reflecting in productive use, qualitative and quantitative production at least cost.
In a nut shell, the buying motives have direct correlation with each of market mix. No successful business house is capable of designing and implementing suitable market mix without reference to buying motives of consumers, because “Consumer Is The King” and king-pin the whole scheme of marketing. This marketing programs and strategies are the reflexion of buying motives in the ultimate analysis.