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Strategic Management and Business Consulting

Can You NAME the Buyer?

NAME that TUNE

Who makes the decision? Every child quickly learns which of the two parents makes which decisions. They quickly become adept at playing one against the other to get what they want. The kids are not the buyers, they are the sellers in this case. They sell you, playing on your emotions, to get what they want.

We had our automatic dishwasher go out a week ago. We went to our regular appliance store. I introduced us to the salesman (or was he the appliance consultant?), indicated the young lady with me wanted a new dishwasher (always a good idea to compliment your wife), and then backed off and remained silent. However, Friday, when we had to make a medical insurance choice for her before the December 15 deadline, I had done all the work and she looked to me for guidance, even though she had to answer all the legal questions to the insurance broker on the phone working with the government marketplace website and more.

Instead of the old statement of "name that tune" which was a game show ages ago, it is almost always, NAME the buyer. I choose to use the acronym to stand for

Need—Authority—Money—Energy

The ultimate decision maker, the economic buyer, has the need for what is being bought, has the authority to decide to buy or not and to buy a specific item over another, has the money, and has the energy to negotiate, install, learn, and more.

There's a fun commercial on TV where a man buys two vehicles for the family. A great looking red SUV and a manly, black pickup truck. The man mistakenly thinks the black one is his, but his spouse effusively thanks him for the black pickup truck while he unexpectedly accepts the red SUV. Had both the man and the woman gone to the car dealership together, a good sales person would have figured out things early on.

What's in a NAME?

Just your path to success in business and sales.

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