Why Do People Buy Something?
If you are the only service provider in your niche, you do not need to work hard on customer loyalty development for your brand. However, almost no one is so lucky. Even if someone starts a new company offering a new service or product, chances are high that it will soon start seeing competitors are popping up from different directions. Especially if the business model is profitable, or do not require huge investment or expertise, you are sure to see huge competition very soon.
When you are the only company offering the product, you can do well by developing the core product and advertising only to let people know about the product. However, once the market becomes saturated, it is not enough to continue developing the core product. You must do something more than just product advertising. You must invest on brand loyalty development and try hard to keep the existing market base.
Smart marketers do not indulge on better customer care or customer satisfaction from the very beginning. This is one of the most important part that you develop over time to retain customer loyalty at hard times.
This is normally the ideal situation. However, things do not always move according to the best script. How do smart marketers and advertisers deal with the situation in hard times?
There is no readymade strategy to this situation. It solely depends on the situation and more importantly the product category. For example, if you were selling FMCG products, the solution would be different from high-end products like diamonds. However, in any case, you must be fast at understanding the needs and wants of your target market.
Some people may ask why I am using the words "needs" and "wants" though both of them signify the same thing. However, if you think more deeply, there is a huge difference between the two. For example, think about a situation where you are too thirsty. What do you d when you have some money in your wallet? You stop by a shop and buy some packaged water though you could have easily quenched your thirst for free. Why did you spend money to buy something that you could get for free to serve the same purpose?
Experts say that, you buy beyond your regular needs because it makes you feel good. You feel good when you see that you are drinking water from Fiji. You feel good because you feel that you have water in the purest form. Although you have never seen or imagined how the bottle was prepared or even the actual source of water. You also feel good that you have enough to afford the best for you.
And, here is the beauty of advertising. They are not telling lies to you. The marketers are branding the product in such a way that you feel like using the best product in the market.
This is not just about product advertising. The same thing would not have happened if the advertiser had concentrated on showing how their product is better than the competitors' products. It is all about branding or product positioning that sets you apart from the competitors and answers the "wants" of the target market. This is about brand identity marketing.
Steve is a media professional and writes for different online publications on media and advertising industry. For more information on brand identity marketing or brand marketing, he recommends you to visit http://www.brandweek.com
Article Source: ArticlesBase.com - Why Do People Buy Something?