Psychology and Marketing

A big part of marketing is understanding your consumers and their behaviour. Once you have dissected the market and determined precisely who you are targeting, you can begin to understand them.

Considering two friends, the more time they spend with each other, the better they understand each other. Often you know what your husband is going to say before he says it. Or you recognise a look your mom gives you, and only you. So too, should a marketing team get to know their customers, this is where psychology comes in. You need to think as they would, put yourselves in their shoes. Every decision you make from here on could make or break your product.

The next steps

Once you know as much as there is to know about your target market, you can start making decisions. Ask your team questions such as:

  • Where will our product be placed on the shelves?
  • What shops will carry our product?
  • What packaging; colour, material, cost-effectiveness, eco-friendly?
  • Does our target market listen to the radio, or watch tv, or are they into social media?
  • Is our product fulfilling a need or a want in the hearts of our consumers?
  • Does the sale price fit in neatly into their income bracket?

You can see why it is essential to do your market research properly. Even the colour you choose for the packaging could make such a significant difference. For a simple example of how different people view different colours take a look at the traditional white wedding dress. In India, white is worn to a funeral and red is the chosen colour for a wedding dress. Without proper research, you can easily insult those who you are trying to target.

Phase your Pitch to be Appealing

Simply rearranging your words to be more appealing is a smart method of convincing consumers to buy your products. With sales, remember, people, think in percentages, rather than numbers. If you are planning to have a deal on an expensive item with only a 10% discount, consider putting that discount on a less costly item.

This means the company will be losing out on the same amount but generating more sales. Consider an item of $250 with a 10% discount; this is equivalent to a $25 loss for the company. However, if you take a $50 item, give it the same monetary value discount, it is more appealing as a 50% discount to the consumer.

Appeal to the senses

  • Sight – make everything visually appealing, use the same images in print, video, and packaging.
  • Sound – creating your jingle always proves successful at keeping your brand in the minds of your consumers.

There are many ways to use psychology effectively in marketing. It may be well worth adding someone with a psychology background to your team. It can be hard to think like others, and the people with the correct training will be able to do this easily.