Episode 1 – Three Influencing Factors of Every Buying Decision

Marketing Stuff You Should Know show

Summary: There are three influencing factors in any buying decision. Quality Time Price Lets take a look at each one of these factors while using running shoes as an example. First is quality.  If a customer is influenced by quality then chances are they are either looking for a specific name brand of running shoe or dont mind taking their time trying them on and testing them out.  They also understand that they will pay more for the product because they are getting the better quality. The second influencing factor is time.  If a customer is influenced by time then chances are they need to have their shoes by a certain date, perhaps to run in a race.  They are expecting to pay more for the shoes and may or may not be as picky about the brand of shoes they get especially if they can get them quickly. The third and final influencing factor is price.  Customers who are influenced by price tend to shop forever to get the best deal.  They dont care how long it takes to find a great deal or even which name brand they ultimately ended up buying because they got the product at a good price. Which one of these three factors does your product fall into?  Once you figure that out, you can start marketing to the right people.