August 12, 2020

People Don’t Buy Products, They Buy Better Versions of Themselves (Marketing)

Do People really buy products? If not what people are actually buying? Curious to know about it? Then this blog post is for you.

People Don’t Buy Products, They Buy Better Versions of Themselves

There is the famous story about Steve Jobs when he invented the iPod and everyone in the news and the rest of the tech industry scratched their head a little. MP3 players had been around for quite a while, what was so different about the iPod? (From Buffer)

Key Points:

• Steve Jobs marketed and presented iPod as “1,000 songs in your pocket”
• When everyone else was saying “1GB storage on your MP3 player”, telling people about the product, Apple went ahead and made you a better person, that has 1000 songs in your pocket.
• People don’t want quarter-inch bits. They want quarter-inch holes.
• So, the customer wants to make a quarter-inch hole for some reason. They buy a quarter-inch bit for their drill in order to achieve this.
• Marketing the drill bit based on its features (it fits into your drill) wouldn’t be as successful in this case as marketing it based on the benefits (you can create a quarter-inch hole).
• Read the full blog post to learn more (5 mins)