We buy products and services to satisfy our needs. Alright! But does it stops here? Why do we buy them again? Or why do we buy three when we need just one? What makes us motivated again and again?
They say that motivation is a very dynamic construct. Simply because it keeps on changing and it is very subjective. We have already discussed that need is the origin of motivation. Here,let me remind you that need may also change depending upon its interaction with the environment. Think about your career goal, for example, after enrolling to a premier college (if you get through!) the next goal is already decided – to get placed in a good company! It means, as old needs are satisfied, new needs emerge and we get motivated again. If they are not satisfied, we look for new goals or substitute goal. Like those who settle for next best college if can’t qualify for the best college.
At this point, let us discuss about the sources of motivation.
Consumers will have some or the other needs, constantly changing and motivating them to buy. Marketers see this opportunity to market their products and services. Some of such situations are:
Out of Stock: Nothing beats that! Many dealers take advantage of out of stock situation to sell less popular brands. The companies try to lure consumer with lesser cost and extra benefits. Consumers may not have any other option but to buy! Think about a situation when you have to purchase some other brand because your favourite brand was out of stock!
Some companies however, view this situation differently. They purposely limit the stock in order to create a buzz in market! A risky preposition though! Remember Mahindra XUV500 limited bookings in 2012?
Dissatisfaction: “Are you unhappy?”, “Are you using the same old product? We come across such ads often. The idea is to motivate the consumer to try a new product if he is dissatisfied with his/her current state of affairs.
New Needs or Wants: You all agree that, human needs changes with the changes in life. An arrival of a new born in a family brings out new set of needs and motivation to buy new products. Purchase of a new house leads to purchase of new home furnishing products and so on.
Related Product Purchase: At times, with the purchase of one product, there are several accessories required to be purchased, like, with a new camera, one can purchase extra lenses, a tripod, various cables and memory cards.
Market Induced Needs: Marketers promote new product features and attributes to stimulate need for an existing user by clubbing an exchange offer (or buy one get one free!).
New Product: For a very new or revolutionary product, marketers induce need through promotional efforts. For example, Apple Inc marketed IPod very successfully though it was a completely new product. All well know companies have their R&D that work on bringing up new innovative and competitive products in the market. Latest in the series is Googles Glass.
Related Product Purchase: At times, with the purchase of one product, there are several accessories required to be purchased, like, with a new camera, one can purchase extra lenses, a tripod, various cables and memory cards.
Market Induced Needs: Marketers promote new product features and attributes to stimulate need for an existing user by clubbing an exchange offer (or buy one get one free!).
New Product: For a very new or revolutionary product, marketers induce need through promotional efforts. For example, Apple Inc marketed IPod very successfully though it was a completely new product. All well know companies have their R&D that work on bringing up new innovative and competitive products in the market. Latest in the series is Googles Glass.
Here is a video with examples:
Happy Reading!!
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