Why Do People Buy Things?
Updated: August 10, 2023
This is a work in progress. I update this with new ideas.
The goal of this post is to backward engineer a full answer to the question: what makes people buy things?
That’s not the founding question at all (this is a later edit). The real question is: how does a Sellout make a product sell? Is it possible to take an object, anything, and make people want it? How do you do that?
To get to that, we must interrogate the original question: why do people buy things? More on that in a second.
This whole exploration will be successful if I can:
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Turn things that people don’t currently want into sellable items. Ideally, popular items.
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80% of products or services fit into the model
This post will morph as it goes. The path I’ll take is what I believe is called the Socratic method - I have several questions, and I’ll explore the answers to those.
Here’s my initial question:
- Why do people buy things - products or services?
Here’s my initial answer to that question:
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To solve a specific problem
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To reflect part of their identity
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To gain access to a group
- You join a new running club. You want to dress and look like a runner. There are casual-runner brands and real runner’s brands.
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To show membership to a group
- For example: show they support a sports team. Show they are environmentally conscious.
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But in writing that answer, I have more questions.
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First, why do people buy anything?
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Why do people buy products?
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Why do people buy services?
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Other types of purchases are out there?
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Second, it’s common in marketing to think, “people buy products to solve problems?” but,
- How do people choose which problems they will solve?
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What makes somebody aware of a problem?
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What makes them say, “ok, this is a problem worth solving,” versus “Nah mate, not a problem for me”?
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Why now?
- When do people decide that now is the time to solve the problem?
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- How do people choose which problems they will solve?
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Miscellaneous
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We know products align to groups, e.g., cycling fans wear cycling gear. How do brands initially become aligned with a group?
- How does a product align with a group?
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Aside from Problem-Solving and Identity Products, what other product-buying reasons exist?
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