What is Marketing Psychology?
Why is knowledge of marketing psychology important?
1. Anchoring effect
2. The Zeigarnik effect
3. The Barnum Effect
4. The principle of reciprocity
5. Loss Aversion
6. Halo effect
summary
When explaining a promotion strategy or promotion plan that you have formulated to your boss, have you ever found yourself unable to clearly answer the question, " Why did you think that way? Why did you make that choice? "
Modern marketing involves a wide variety of methods, and when you are planning your business based on commonly used marketing tactics, it can often be difficult to put into words the reasons for every little detail.
However, in reality, marketing psychology, which is an application of human behavioral psychology, often underlies "promotion strategies," "content planning," and "design," and understanding this makes it easier to put the rationale into words.
This time, we will be focusing on the theme of " marketing psychology " and introducing six major examples of "marketing psychology" that form the basis of the catchy slogans and sales promotion strategies that we often see around the world.
The marketing psychology you somalia business email list learned in this article can be immediately applied to planning various measures, and you will be able to clearly answer "why do we do it?" when presenting the promotional measures you have planned. Please read to the end.
What is Marketing Psychology?
Marketing psychology is a type of behavioral psychology that studies consumer responses to product and service approaches and the impact these have on purchasing behavior, and applies this to marketing strategies.
When planning marketing activities such as advertising, branding, product development, and sales strategies, by first understanding consumers' psychological responses at a deep psychological level, it is possible to formulate effective strategies based on clear evidence.
Why is knowledge of marketing psychology important?
The role of psychology in marketing is to understand why people buy products and services and create strategies to sell them successfully. Here are two reasons why you should study marketing psychology:
1. Understand the thinking behind purchasing decisions
The study of marketing psychology reveals the principles of what people think and do when making purchasing decisions, allowing marketers to craft copy and messages that will increase the likelihood that people will buy their products.
2. Understand how consumer emotions affect purchasing behavior
Marketing psychology teaches us how people's emotions and thoughts influence their purchasing behavior.
For example, positive feelings toward a favorite brand increase the likelihood of becoming loyal to that brand.
In addition, how consumers perceive the things in front of them influences their product choices.
These factors provide important knowledge for creating strategies to sell your products and build better relationships with your consumers.
From here, we will introduce six marketing psychology tips that can be immediately applied in practice.
1. Anchoring effect
The " anchoring effect " is a psychological principle that states that people are strongly influenced by the first piece of information they are presented with, and use that first piece of information as a benchmark for subsequent decision-making and evaluation.
Examples of using the anchoring effect in marketing
One specific example of its use in marketing is product pricing.
For example, let's say a product is normally sold for 10,000 yen. This 10,000 yen becomes an "anchor" in the consumer's mind.
Later, when the product goes on sale for 8,000 yen, the consumer will compare this new price to the original "anchor" price of 10,000 yen, and as a result, 8,000 yen will seem like a great deal to the consumer, increasing the likelihood that they will make the purchase.
When online shopping for cosmetics, health foods, etc., you often see appeals like " Normal price is 5,980 yen, but first-time trial price is 980 yen ," and this can also be said to be aimed at the anchoring effect.
In this way, the anchoring effect is a powerful marketing tool for manipulating consumers' price perceptions and stimulating purchasing intent.
Points to note when using the "anchoring effect"
On the other hand, when discounting products with the aim of the anchoring effect, care must be taken not to violate the Act against Unjustifiable Premiums and Misleading Representations. If the regular price (original price) initially displayed is inappropriate or has no substance, it will be a violation of the Act against Unjustifiable Premiums and Misleading Representations and will also lead to damage to the seller's brand.
2. The Zeigarnik effect
The " Zajonc effect " refers to the psychological effect in which people develop a more favorable impression of something as they come into contact with it more frequently.
In your daily life, you may have found yourself unconsciously putting products in your shopping cart that you have seen many times on TV commercials or in stores, even though you rarely pick up products from brands you have never heard of before.
You may have had the experience of feeling something like this. In fact, this phenomenon is also due to the Zeigarnik effect.
Examples of using the Zeigarnik effect in marketing
Let's look at the Zeigarnik effect from a marketing perspective.
When consumers see a product advertised multiple times, they may develop a favorable impression of the product and may end up purchasing it.
Additionally, frequent exposure to a company's logo and brand can make people feel more positive about the company and more likely to purchase their products or services.
For example, major companies focus not only on digital advertising that can be seen on the web and social media, but also on mass advertising on television and transportation, and appeal to consumers through a wide range of media.This can be said to be a strategy aimed at taking advantage of the "Zajonc effect," which increases the frequency of contact between consumers and a brand, thereby making them unconsciously favorable toward it.
Digging a little deeper, daily posts on social media and weekly email newsletters are also aimed at increasing opportunities for contact between consumers and the brand.
