Why humans buy things

What makes humans buy things?

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As a marketer and business owner it is very important to know and understand fully why people buy things.  Knowing this helps you understand how to get your products and services out there into the marketplace correctly and most effectively.  This question brings us back to Maslow’s hierarchy of needs.  There are 3 levels that cause humans to buy. Needs, wants, and desires…

1. Needs –  At the basic level, before anyone considers ‘bettering’ themselves, they look at a set of requirements that are essential to survival. Things like food, water, heat and shelter. This is global, mass-market appeal, from the big supermarkets down to your local corner shop. Sell into the ‘needs’ category and you are looking at high volume / low margin.

Some of the need motivators that makes people buy are:

to stay alive (eat and drink)
To stay warm
To have shelter
To be healthy and clean
To avoid pain
To ensure general security and protection

2. Wants – Now we’re getting to the place where people have satisfied their basic requirements for survival and can afford to step up the ladder to satisfy some of their wants. Wants are ‘nice-to-have’ things – not essential but they make life comfortable. A car, a TV, a CD/DVD player, that amazon kindle – generally a decent standard of living. To capture THIS market of satisfying people’s wants , you’re going to need to work a bit harder on two fronts.

1 – It’s take it or leave it. They may not really need it at the end of the day, so YOU have to clearly highlight the benefits and make your potential client see that they actually do NEED the product.

2 – There is always someone else offering the same (or comparable) product. Nowdays ‘wants,’ to many people, have actually become ‘needs,’ so there is an element of mass-market selling in this sector. We are up against many other businesses offering similar products; we have to advertise correctly and we have to make people chose US over the competition.

Some of the WANT motivators that make people buy are:

To be socialy accepted
To look and feel good
have sex appeal
To save time or money
To improve comfort levels

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3.) Desires – Desires spring straight from emotions. Profitable sales are achieved on the back of emotions, because if someone has a burning desire to satisfy, then all logic usually flies out the window! Someone buying on emotion will pay a high price – which is excellent for you.

If you are in the business of satisfying desires then you are probably selling niche products or services, which don’t have mass-market appeal. You are focused on people who are happy to pay a premium to get what they want.

Some of the desire motivators that make people buy things are:

Sex appeal
To improve social standing – not just keeping up with the Joneses but to be better
To demonstrate love
To gain prestige or to impress
To be popular
Regaining forgotten youth

Understanding the REAL motivators of BUYERS helps us be better sellers.  Some other reasons that we have found that make people buy things are:

The offer is only available for a limited time.
There is only a limited number of items available.
You like the idea of owning it.
The Jones’ have one and you want to keep up with them.

In summary, Maslow’s Hierarchy is essential in knowing how to sell something. What drivers are you going to take advantage of, and what type of person is going to buy your product(s). Understanding these 2 factors, will provide on of the most valuable insights: What makes people buy what you are selling???

We want to hear what makes you buy things!

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Check out what some other people are saying about the psychology of buying things.

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The psychology of happiness — The Ghanaian Journal

Where people once dreamed of buying a new car, they now dream of buying a luxury model. “People are wedded to the idea that more money will bring them more happiness,” Easterlin said. “When they think of the effects of more money, … Perhaps it’s because many of them are workaholics, because they’re more focused on money than on the things that would bring them joy. A brief companion piece to The Washington Post story notes that researchers have found that “being wealthy …

Publish Date: 06/16/2010 6:04

http://www.theghanaianjournal.com/2010/06/16/the-psychology-of-happiness/

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Money can buy happiness if you spent it right | Psychology Today

Buying experiences can make you happier. Published on May 21, 2010. Concert crowd We spend a lot of money trying to buy things that will bring us enjoyment. Yet, we all know people with plenty of money who are still not very happy. …

Publish Date: 05/20/2010 3:00

http://www.psychologytoday.com/blog/ulterior-motives/201005/money-can-buy-happiness-if-you-spent-it-right

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10 Secrets to Successful Home Buying and Selling: Using Your …

With 10 Secrets to Successful Home Buying and Selling, you get it right! Lois A. Vitt helps you discover your “housing value system,” your personal housing psychology. Learn how your expectations compare with your family’s expectations, so that you can make the … This book is just one of many of the remarkable things she has written, but this book alone has been the greatest help to me in deciding to refinance my home, an idea I had been toying with for a long time. …

Publish Date: 06/15/2010 23:56

http://markapringle.com/buying-selling-homes/10-secrets-to-successful-home-buying-and-selling-using-your-housing-psychology-to-make-smarter-decisions.html

Hollis Carter & Marc Horne
HC Consulting Group