Saturday, October 30, 2004

Need it - or Want it?

I was talking with a friend this morning, about two products I'd like to buy. One is around 300 bucks, the other 250. Of the two, I know which one I'd rather have - or at least, rather have first. Anyway, it brought up a point that I thought was interesting... and worth discussion.

He said - there's a line you cross between needing something and wanting something. How much you're willing to spend on something you want versus something you need. Let's just say $100, for example. You might hesitate to spend that amount on something you want - but if it's something you need, it's easily justified.

So he asks me, of the two products I am considering, "Are they something you want, or something you need?" Hmm. I guess I could do without either, honestly. But I could put the $300 item to use and make money with it very easily - so I could classify that as something I 'need'. The second product - the one that was $250 - I just want for the sake of having it. I would most likely get something out of it, but its nowhere near a necessity.

So that settles it. I buy the $300 item now, use it - and write it off as an expense. And then I get myself the $250 item for Christmas (um, and write it off, too) *grin*

I just found the whole conversation interesting from a marketing perspective. It started as a small comment, and I really dug in and asked him to explain his feelings on it in more detail... because in addition to relating to that scenario (like with the two products I was considering) - - I can see this as playing a big part in price points and copywriting when promoting things that people need versus things people want.

Comments welcomed! ;)