Observations on life

Terms of the Trade – HumbleDollar

What motivates you to buy? You may be surprised. Check out this interesting article.

Terms of the TradeJim Wasserman  |  July 10, 2019

CONSUMER economics and media literacy have evolved to become important fields of study, analyzing the way consumers make decisions—and how those decisions can be nudged. Here are 20 of the tricks and techniques used by marketers and others:

Aspirational buying. When consumers are encouraged to live like those they admire, even if they can’t afford it.

Bandwagon appeal. The psychological nudge to do—or consume—something because others are doing it. Also known as FOMO, or fear of missing out.

Source: Terms of the Trade – HumbleDollar

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  1. As we get older most are less materialistic. The club memberships are another factor. Buy a ‘Prime’ , Costco, or BJs membership and you feel you must use their store or website to ‘get your monies worth ‘. Most of the time you can get the same product for less when it is on sale locally. Great marketing!

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