Prius or Pickup

PTC-Computer-Solutions-Parker-Associates-blog-January-2019-Everything-You-Need-to-Know-about-the-Psychology-of-Choice

The Psychology of Sales

In a recent book available on Barnes & Nobles website by Marc Hetherington and Jonathon Weiler, researchers have defined how the answer to four questions can define the psychology of the individual.  They consider these four questions critical in defining the purchasing decisions of that individual moving forward.

If you had to buy a new car, would you be more likely to choose a Prius or a Pickup?

When you imagine your favorite meal, does it feature classic American dishes like meatloaf and mashed potatoes?  Or, do you crave more exotic fare, like chicken curry, Padt Thai or Kefta?

When you turn on the radio, do you listen to Country Music or Oldies?  Or, is your dial set to stations that play hip-hop, reggae, or electronic dance music?

If you’ve ever had the opportunity to choose a name for a child, have you opted for names beginning with soft-sounding letters, such as Louise or Sean, or hard-sounding ones, like David, Katherine, or Tom?

When you think about the values you want children to have, do these qualities include things like respect for elders, obedience, and good mangers and behavior? Or, would you prefer that children be independent, self-reliant, curious, and considerate?

These might seem like odd questions to be asking, but they define many things about the human psyche.  All of these questions have something in common.  They tell us something important about the way you view the world – and also about the way you vote.

Parker Associates has been involved in developing countless surveys through the years, and it’s questions like these that can help define what kind of buyer is in the market.  Consumer answers will lend answers to the questions we want to answer:

WHO? WHAT? HOW? CONSUMERS COME FIRST

Real estate marketing and sales relies first upon understanding the characteristics of potential consumers and their needs and preferences — WHO are these individuals and households for a particular marketplace in terms of age, income, household size and likely behavioral patterns.

Such consumer information is essential to creating the highest impact product to attract their attention — WHAT appearance and design features will match their needs and preferences at a feasible price range. For new homes, product includes regional and neighborhood attractions as well as community amenities and both the exterior and interior features of specific dwelling offerings. The tendency of consumers to relate to persons with similar age, income and household size characteristics provides a special attraction for most potential buyers.

The same consumer information provides the basis for cost-effective marketing strategies — HOW best to attract these consumers to contact the builder and visit the offerings at the most efficient time and cost outlay. Despite claims to the contrary, most real estate requires face-to-face contact with consumers to achieve sales. It cannot be sold by phone or even Internet communications.

These three simple words — WHO?  WHAT?  HOW?  — constitute the essence of efficient marketing and sales or leasing of new homes. They are the basis for Parker Associates’ success in guiding many community developers, hoteliers, and homebuilders toward rapid sellout of all types and prices of new homes and rental apartments. With modest modifications, they can be applied directly to retail, commercial and industrial real estate as well as housing.

The Parker Associates process starts with a confidential review and consultation to learn more about our processes. If you want our opinion, then Contact Us to put Parker Associates working for you.

Parker Associates works extensively on understanding your market, your consumer, and your goals. We don’t take guesses, we take the time and commit the resources to researching the market and the consumer to make sure we get it right.  We are YOUR advocate by being the CONSUMER’S advocate.

Spend time looking at what you are trying to acquire, develop, or sell to learn how you can improve the success of what you are offering. Parker Associates helps understand the consumer by answering WHO will buy, WHAT they will buy, and HOW they will buy it.  When the research is completed and the analysis is done, having the answers to these questions will reveal what will provide the best success for your project.  Keep asking WHO, WHAT, and HOW and keep developing to fit the need.

The Parker Associates process starts with a confidential review and consultation to learn more about our processes. Then Contact Us to put Parker Associates to work for you.

David WB Parker is a principal of Parker Associates of Jacksonville, Florida, marketing consultants to the real estate industry; President of PTC Computer Solutions, IT Specialist, and an active real estate sales professional with PARFAM REALTY based in Jacksonville, FL.  He can be reached at 904-607-8763 or via email davidp@ptccomputersolutions.com.

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