I learnt something really important today, so I would like to share it with you. This might be included in some marketing or sales courses but I wonder if a common person knows about it.
Do you know what are the influencing factors while buying something? They are MAN! yes you read it right but here is what it stands for:
M = Money : The foremost influencing factor is money. This means that you have the ability to buy the product or service.
A = Authority : This is a rather broader term. Which mean either you have the authority to buy it or somebody else with you has the authority; it could be your husband, your wife or somebody else. I would like to think that even our surroundings influence us with this authority. For example, if I do not have the need to buy something but I see a trend emerging and everyone following it, I tend to buy it. In this case my surrounding has influenced my buy.
N = Need : Lastly, we should have the need to buy something. That is the most important thing to have in order to develop the desire to buy .
That’s about it. I think there are more updated versions of MAN out there but I just felt like sharing what I just learnt.
Till next time…