Monday, March 24, 2014

Emphasize the Price to Spotlight Functionality

When consumers shop for items to be used some time from now, they'll pay special attention to the number and distinctiveness of the features. But when consumers plan to put the item to work soon, they're especially interested in ease of use. Ask shoppers how soon they plan to start using what they’re considering. Knowing this allows you to present the most compelling balance between desirability and feasibility benefits.
     In some instances, though, you’d like the shopper to pay more attention to the value of the functions even when the purchase is intended for imminent use. Researchers at Washington University in St. Louis and University of Toronto find that one way to accomplish this is to emphasize the price of the item. When consumers encounter a price for an item to which they’re attracted, their brains will start seeking ways to justify the expenditure, and so they’ll spotlight the number, distinctiveness, and value of the features.
     Because this tactic increases the consistency between shorter-term and longer-term choice strategies, it works best with people who carry a self-image of stability regarding how they assess products and services for purchase. They view themselves as using similar criteria and as probably making the same choices again in the future if the circumstances are similar. Compared to shoppers with a self-image of low stability, the shoppers with high-stability self-images appreciate customized recommendations more and are more receptive to learning from the salesperson.
     How do we change self-images of low stability into self-images of high stability in order to increase our influence? Using questions that include the word “you” help the shopper describe the criteria they use and recall the instances in which they’ve used those criteria:
     “In the past, what standards have you used in selecting a floral arrangement? How did those standards work out for you?”
     Also, emphasizing price doesn’t necessarily mean putting price before quantity: Which of these two is more attractive to shoppers?
  • $29.99 for 70 rolls 
  • 70 rolls for $29.99 
     Researchers at Virginia Tech say to put the even quantity before the odd price. A quantity of 70 seems like a lot for whatever you’re paying. But a price of $29.99 is high enough to justify a second thought. So the appeal of “70 units” outweighs concern about a $29.99 price, making the “70 rolls for $29.99” the more attractive phrasing. The second of the two above is better.

Click below for more: 
Accent the Emotions when Imminent Usage 
Strengthen Perceptions of Self-Consistency 
Put Large Quantity Before Odd Price

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