Are you trying to sell a new product? Then you must make the understanding of the psychology of the average buyer, your priority.
For your new product to enjoy satisfactory sales volume, you must understand the fact that people buy because they love to. Sometimes, you may buy a stuff you don’t have an immediate need for and which, you may never need. Still you buy it because you love the exciting sense of responsibility buying it gives you.
People buy some stuff out of emotion. You may buy a product in anticipathon of a rise in its price, out of fear of a particular model becoming unavailable in the forseeable future or because it’s trendy and everybody is buying it.
Understanding the psychology of the average buyer helps in branding and promoting a particular product. For instance, many people buy a product because their role model; a music star or top athlete uses or promotes it. So, if you had the means to get a popular figure to promote your brand, then you would easily get your product into several homes.
Therefore, understanding the psychology of the average buyer is necessary for high sales figures.