| What part do emotions play in making buying | | | | already started utilizing this principle. All banks have |
| decisions? Think about Harley Davidson – all it | | | | almost the same products to sell, but with the |
| makes is bikes. But what makes it one of the | | | | advent of “relationship banking” complete |
| most profitable automotive companies in the | | | | with “relationship managers” and |
| world is that it has, over the years, successfully | | | | “financial advisors”, the race is on |
| established strong emotional bonding with those | | | | between which bank bonds better with a |
| who own “a Harley” or yearn for one. | | | | customer and which a customer feels more |
| Starbucks is another company that mastered the | | | | emotionally attached with. Automotive industry in |
| art of selling coffee by getting close to the | | | | India is still to get to grips with engaging |
| customer in ways other than just pricing and | | | | customers in this manner. With umpteen new |
| product features. | | | | models being launched in India by virtually every |
| It can thus be said that such emotional buying | | | | global company, Indian customers are not finding |
| helps companies get longer term customers who | | | | enough reason for getting attached to any |
| will pardon a few mistakes here and there, who | | | | particular brand. Most people would buy the |
| will promote the companies by word-of-mouth, | | | | “flavor of the season” cars regardless of |
| who would proudly show-case the companies’ | | | | which company they are from. It will be |
| products and encourage others to join them as | | | | interesting to note how automotive companies in |
| customers. | | | | India will turn “cold buyers” into |
| In today’s world where technology and free | | | | “attached supporters”. |
| flow of information has lead to commoditization of | | | | Can you name a few companies who have |
| almost everything, relationships and emotions | | | | succeeded in "emotions-based" marketing |
| might just be the secret ingredient in the recipe | | | | strategies? Can you name some who have failed |
| for marketing success. Banks for one have | | | | in it? |