AGEC331_2-1.3.09 - AGEC331 2.3.09 UNDERSTANDING BUYERS To...

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AGEC331 2.3.09 U NDERSTANDING B UYERS Perceived Need To sell you first must understand what and why The Economic Exchange Model When buyers make a specific purchase decision they believe they will gain more then they give up Customers also buy because of their emotional and psychological needs They may choose a product because of its “peace of mind” or “panache” The Hierarchy of Human Needs Abraham Maslow – 5 Levels of Needs Relating your product to one of these needs will enable you to succeed Adoption Diffusion Curve Innovator – First 2.5% to adopt a new product Early Adopter – The next 13.5% Early Majority – 34% following Late Majority – 34% getting into game late Laggard – 16% least worried with keeping up with the Joneses Innovator Sees self as in touch with new ideas Frequently read research bulletins Well educated Scientific approach to problem solving
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This note was uploaded on 04/09/2011 for the course AGEC 425 taught by Professor Miller,w during the Spring '08 term at Purdue University-West Lafayette.

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AGEC331_2-1.3.09 - AGEC331 2.3.09 UNDERSTANDING BUYERS To...

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