by Renae Richardson

Created on: August 01, 2009

Product pricing, availability, and attractiveness are all extrinsic motivators for product purchase,

Product utility, value, reward, and benefit are all intrinsic motivators for product purchase.

The general consumer desires to purchase products that he or she can use, that will meet their needs, fulfill desires, make lives efficient, or aid in his or her progression toward meeting future goals.

Even still the consumer will weigh factors of price, availability, and attractiveness when choosing from whom to purchase or whether to purchase at all.

Everyone is in pursuit of a dream! There are steps that we follow to achievement.

We are continuously learning, changing, and improving ourselves and we purchase products that will improve our opportunities whether it serves to enhance our appearance, improve our attitude, health, knowledge or aid in time efficiency and management,

Whatever the case maybe the bottom line is this, self-improvement and progression are the greatest motivators.

Need is also a great motivator.

Individuals will buy what they need to survive!

Abraham Maslow one of the great behavioral psychologist theorized that there is a system of needs that people strive to meet and that these needs are organized in pyramidal hierarchal form.

According to Maslow, the individual must meet his or her basic needs first and once those needs are met then he or she progresses to the next level and then strives to meet those needs.

As he theorized, our most basic needs are for shelter, nourishment, love, and safety.

He was right in his assessment. On a basic level people will always move to maintain survival first and foremost.

When we as business owners internalize this principle we understand that the foundational premise of product offering should center on meeting the needs of individuals.

Yet, our product development and offerings will fall short if the focus is on need base offerings alone. We must realize that our individual consumers occupy different tiers of the hierarchy.

Those who have found sufficient avenues to get their needs met then move to the point of having their desires met.

At this point one must interview a cross section of the consumer base to determine their current needs and operate accordingly.

The strategically powerful company offers a diverse product offering that meets both the needs and desires of their client base and realizes that no two regions are populated by individuals with the same goals, motivations, or economic status. What is done in Malibu will not efficient in the Appalachian valley!

The key is research and diversification.

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