Understanding how you purchase small, medium, and large sized items helps you to understand the other side of the sales equation. The buyer side.
Many people waste too much time worrying about the price of a specific product. Sales people want to tell themselves that sales, lost by them, where not their fault. So, they blame price. But most data shows that sales decisions aren’t actually based on price.
Correct. Because each individual defines price from their own personal experience.
In Behavioral Finance we would call this anchoring. You are anchoring to what you believe is small, medium, and large prices.
Most people will purchase what they perceive as small items subconsciously or out of habit.
Medium purchases will use some thought, but mostly the buyer will integrate mental math. Mental math always ends up being wrong once a second step is involved.
To access math we have to use a different part of our brain. We have to slow down and actually do the calculations.
This will happen on larger purchases.
If a potential client is using mental math you will always end up the winner.
So send me what dollar amount you define as a small purchase? A medium purchase? A large purchase?
Answer those numbers for if you are buying as yourself?
If you are making the purchase as a couple or with another person?
What are the numbers when it isn’t your money, but a company budget?
Notice that the numbers will be different.
Email the answers to firstname.lastname@example.org