What is it that makes a customer buy a product OR reject after a long evaluation of its dynamics? What all is it that runs on through a prospective buyer’s mind while evaluation of the product? A little digging here,
- Budgetary Stress
The question here is – Is the investment worth the outcome of a certain purchase? This risk situation is an extremely important factor in deciding to buy.
- Organizational Stress
Buyers care about how colleagues perceive him. Senior executives are worried about what investors, the board of directors, and members of the leadership team think about them. Mid-level managers suffer competitive pressure because all are striving to advance in their careers and. Lower level personnel are continually seeking to prove themselves to their managers. This Peer evaluation exerts extra pressure on decision-makers.
- Vendor Selection Stress
With the flooding of competing products who intrinsically share the same basic features there tends to be a higher no-decision rate.
- Informational Stress
We live in very skeptical times in which information presented by the media and experts is continually challenged and constantly debunked. Therefore separating fact from fiction is an added task for the customer. As the sales cycle progresses competing vendors may try to escalate uncertainty in the customer’s mind about the competitors’ and the capabilities of their products. This scenario definitely doesn’t help in decision making!
- Evaluation Committee Stress
Group dynamics plays a very important role in final decision. The interpersonal conflicts and favorites in a group can cause the decision making process to stagnate or stop! All this uncertainty clouds the customer’s perspective too!