Why do people buy?
1. Is it due to wants or needs?
Needs are basic: biological, food, shelter, self actualization
Wants are minute distinction in needs. It is an area where marketers work
2 People buy because of
1. Emotion not logic. Because of pride, anger, jealousy, avarice
2. Scarcity -- last one, limited time, limited stock, offer -- thus we hoard, stockpile
3. Threat - safety of family, home, during typhoon, earthquake, medical emergencies, death
4. Authority - experts say, Professor So and so endorsed endorsed by Pamet
Why did you buy something? Did anyone of these affect your buying decision
