Buying motives are the “inner feelings” of the buyers and he tries to satisfy them at any rate to the maximum possible extent. Buying motives being a model of consumer mind, play an important role in the whole scheme of selling and production. A salesman sell those products and service wanted by the buyers and therefore, his firm produces or stocks those goods and services. The significance of buying motive are as follows:
1. Helpful in the success of a salesman: if a salesman could evaluate and understand the buying motives of a customer he can become successful. A salesman could provide goods and services as per the need of the buyer. By already knowing the buying motives, a salesman could satisfy the buyer with his offering in a very little time.
2. Buying motives are the basis of Product Planning and Development: The manufacturers product decision with regard to size, color, weight, dimension, design, packaging, taste, etc. depends a lot on the consumer psychology which is based on information about the buying motives which is provided by salesman. Thus, once the buying motives are known, the salesman may suggest the firm about the product planning and development according to the consumer likings, tastes and preferences. Therefore, a thorough knowledge of the buying motives makes the product planning and development of an organisation considerably easy.
3. Buying motives are determinants of pricing policies. Pricing of products and services is extremely significant because survival, growth and the profitability of an organisation depends on the pricing. it is essential that firms should direct the salespersons to pay more attention and examine the nature of buying motives closely. So that pricing decisions can be made accordingly.
In case a large section of the consumers is influenced by rational buying motives, the pricing policies of the firm have to be competitive.
On the other hand, a comparatively high pricing strategy can be adopted if a majority of the consumers are guided by emotional buying motives.
4. They are planks of distribution policies. Once the salesman informs about the buying motives of the consumers to the seller, the distribution channel of an organisation can be planned effectively.
In other words, if the consumers are primarily guided by the service facilities offered by the salespersons, the manufacturer can plan the distribution pattern accordingly so as to make services available at different distribution points.
If door-to-door service is the motivational factor for a majority of buyers, then such provisions have to be built up by the seller. Similarly, if consumers prefer a particular type of store, the distribution channel has to be modified accordingly.
5. They are helpful in designing promotional policies. All promotional efforts usually aim at winning the confidence of the potential buyers in favor of products or services. Once the influencing factors or the buying motives of the consumers are known, the advertisement and sales promotion programs can be directed towards appealing to those specific buying motives.
6. Helpful in improving goodwill of the companies: Any salesperson, after knowing the buying motives of customers, tries to fulfill his needs. As a result of which, the goodwill of the company automatically increases.
7. Important to win the confidence and loyalty of customers: Buying motives helps a salesperson easily point out the real need of the customer. So, he plans his offering accordingly. The customers get a feeling of being treated carefully and diligently. As a result, customer’s confidence and loyalty increases about the company and salesperson