Marketing Psychology

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Marketing Psychology

Psychology in Marketing

Marketing consists  of multiple platforms and various processes & right psychology. The agency who has acquired expertise in the field will most likely suggest, what should be done at the moment. In case there is an aspect of future presentation or launch of a different product or service, professional marketeer should  be able to suggest and place the options with positive success probability for the company.

Consideration of platforms

Facebook, Instagram, Twitter, Linkedin, Youtube, Google are the platforms where marketing is done and where good online results can be obtained. The reason for selecting social media as a platform for presentation is simple, as the  customer base of products is likely available on the platform. Social media platforms are the places where a customer is most likely to be active at regular period and at a given time. Today, with the help of good psychological studies, it has become easier for marketeers to select and create ads and campaigns depending on selective parameters for the selective audience. Platforms itself have an inbuilt option to select the audience.

When there are many options to choose and options to select it is only natural to be confused and keep an open mind and  campaign for the products and let the open-minded audience choose the product by itself and provide the company with good analysis for focused.

The professional approach

A professional would  most probably be able to suggest the right course of action as he/she  would have tried and experimented on a similar type of product for business function. A professional is an expert who has failed through all the possible ways.   now holds the knowledge of what can work and what cannot by relying on his/her own experience . Answers are expensive and experiments take time. In business there are two kinds of businessmen. One, who can not spare time and will invest the money and get the results. Second, who can spare time and invest a limited amount. A successful businessman will use money and also has patience to come to a conclusion or to get his/her own way.

There are two kinds of audience:

One: They know what they want and will search accordingly.

Second: Don’t know what they want until you show them.

Type of Audience

When a product launches, a company will target both kinds of audience and will market accordingly for the first time. In the long run, once you gain expertise of the mindset of people in buying, a marketeer will suggest you the best time to offers and discounts.i  creating campaigns and ads and looking at the results for years, a marketeer mostly knows and can predict the response rate while commencing,

 

Your ad has a time of mere seconds to show their products and offer. On social media, the response rate is 1-3% approximately. Products whose prices are above 5000INR or 100$, should have a selective audience and knowledge of expenditure time and circumstances.  The way cookies work and ads work are similar. It shows the ads to those who will most likely buy in that price range by predicting the expense habit and flow of expense of the customers.

The customer, who knows what they want, will search it on Google, relevant applications . So the companies’ presence in the top ranks is also necessary. The customer who knows, will most probably come back to buy it. It improves the companies’ chances of  creating a loyal customer base. The company was there to supply the demand when a customer wanted the product.

Companies’ campaign being open to all the customers and not being selective on purpose has one single motive. The product is for everyone , it can be bought by everyone. It was made by considering all the ranges of income and expenditure of the market. The product range approximately falls between or below 500 INR  or 10$.  The price range where people do not have to give a second thought before buying and even if they already have a similar product, it will not affect the wallet  majorly.

The Conclusion

The more expensive the product, the more convincing and the right presentation to the right audience for the relevant time is necessary. All the company needs to do is to have a steady campaign and be opportunistic when the time comes.

Social media is a good platform for marketing on a first basis. Many people will not know the product or service a company has to deliver. The platform where the audience has an open mind to browse will be the future customer.

As a  marketing genius Steve Jobs said, “People don’t know what they want until you show them what they want”.  In the next blog, we will nudge the topic of buying and expense psychology of a customer. Marketing Psychology.

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