Moreover, they are magnifiers. Therefore, an appropriate trigger elicits substantial, immediate and, often, sustainable responses.
This is a fundamental key to recognise and to deploy when price alone is not the answer.
Interestingly, emotional reactions to actual, probable or possible loss are typically about twice the intensity of the joy of gain. That fact alone provides a great insight into the motivations and processes of purchase decisions.
Thus, the orientation of all retail marketing communication needs to be sensitive to the perspective in which messages will be received and actioned.
Key audiences need to be identified, defined and targeted. Specific, concise messages must be structured, purchase criteria outlined and, both objectives and outcomes enunciated.
The prospect of actual loss, or the possibility of missing out, are fundamental stimulants for action. All that is needed by the marketer and advertiser is the channelling of those forces to the desirable outcomes. Reinforcing this reality is the seemingly innate tendency towards the negative of respondents to surveys.
Loss turns to profit when the communication is artfully structured, delivered, supported and followed through.
Barry Urquhart runs Marketing Focus and is a business strategist, consumer behaviour analyst and keynote speaker. He can be contacted at Urquhart@marketingfocus.net.au or on 0419 835 555.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.