Posts Tagged ‘buying decisions’

A lesson in purchaser behavior — straight from the horse’s mouth

By Tracy Barfield, April 26, 2010

Spring has sprung in the Midwest. Horses are shedding their heavy winter coats and I’m about to shed some serious cash. In order to start the season off right, I need to replenish my stock of tack, supplies and supplements. 

    

 

Two good consumers -- Tracy and Darlin'

Two good consumers -- Tracy and Darlin'

 

 

 

 

 

 

 

  

 

Hoof health and word-of-mouth

I’ve had all winter to read and prepare for spring. But I also look to others for help. Studies show that word-of-mouth, brand reputation and associated brand loyalty are hugely important among horse enthusiasts. I’m no exception: if I don’t buy the same brands my grandfather did, I’m probably going to listen to my best friend. My grandfather had horses that pulled, horses that raced, horses with cow sense and saddle horses that covered miles of terrain with ease.  My best friend is an early adopter who consistently tries the newest stuff out there. She’s ridden in every discipline and accepts only the best. And where does all this thinking get me?

 Just say whoa

Well, I can tell you that I already know exactly which brands of saddle soap and leather preservative I’ll buy this year, along with half my deworming choices – the latter decisions are based on experience and rotation schedules . But when it comes to supplements, I’ll chat with friends about their choices and find out how their horses’ hooves look, before I make my decision. My vet may get tired of my questions, but I think this is the year I learn enough to make a qualified decision about using joint supplements to keep my horse’s knees and hocks in good working order.

Will I make another saddle purchase this year? Likely not. My Pessoa  is broken in and rides perfectly. New leathers, irons, bridle and bit? I’m good there, too. But I’ll definitely re-stock with new curry combs and brushes and once I find my faves, I won’t be quiet about what I like.

 While the act of purchasing has evolved with Internet use, my local tack shops have responded with competitive pricing.  Personally, I’ll split my purchases between a catalog supplier and the local tack shop, where individualized service reigns supreme.

 Back in the saddle, sooner

 I don’t see this as a complicated or onerous process. I want marketers to be interested in my needs and likes. But timing is everything for horse enthusiasts. Because making good use of my precious time means I’ll be quicker to get back in the saddle each year.

Do you or your clients have this kind of insight into audiences?  Do you see how it could be valuable?

Tracy is a horsewoman by birth, profession, hobby and certification. At AdFarm she puts her horse sense to work on animal health and nutrition accounts. You can follow her on Twitter @farmgirl76

The power of choice – liberating or debilitating?

By Ron Wall, April 1, 2010

diceAn article about consumer choice in the Globe and Mail’s Adhocracy column caught my attention the other day.

The article focuses on a new book called The Art of Choosing.  Author Sheena Iyengar, a professor at Columbia Business School, asks why we make the choices we do, when it comes to making a purchase. Is it science or just the luck of the draw?

In the article, Iyengar offers plenty of support for the theory that although we might think we make  well-considered choices, we really don’t. As an example, she points to the 2000 U.S. federal election. Ms Iyengar states that thousands of Florida voters cast their ballots for George W. Bush simply because his name was at the top of the ballot.

 We can’t get no satisfaction.

Part of our problem is the barrier of too much. Without question, consumers have more choices in the marketplace than ever before. In her book, Iyengar notes that “while the average U.S. grocery store offered 3,700 products in 1957, it now offers about 45,000. Meanwhile, the number of consumer goods available in the United States jumped from about 500,000 in 1994 to almost 700,000 by 2003. Yet research shows that consumers are perhaps more restless and certainly less satisfied than they’ve ever been.”

Far from creating more personal freedom, one of Ms. Iyengar’s studies suggests that too much choice might instead caise a kind of “consumer paralysis.” But we’re in complete control of our wallets, right? Maybe not.   

Iyengar finds “compelling evidence that people may not really know what they want, or even why they want what they say they want. (This alone has the potential not just to throw marketing research into a spin, but also the very basis of economics, which seeks to study how people maximize their utility.)”

So what does this have to do with agri-marketing? Everything, because whether you’re in the market for a soft drink or a post-emergent herbicide, you have to make a choice.

How do you decide which products to choose? How do marketers influence those choices? 

For more on the subject, you can watch a one-on-one interview with Sheena Iyengar and Globe and Mail writer Simon Houpt. And whether you watch it or not, you’ve made a choice.

 Ron Wall is a writer at AdFarm. He believes in free will, as it applies to online shopping.