Psychology In Business

Words like "Spending the next 10 minutes reading this article would benefit you for the rest of your life" resonate as a result of the psychological impact it has on the reader. It is no surprise that marketers employ psychology to attract and engage an audience.

Though it might come as a surprise when you realize that the vast majority of marketers aren't psychologists. Smart marketing is done in subtle ways that the audience barely notices.

The objective of marketing campaigns and advertisements is to take control of the mind while staying within the ethical boundaries. 

So how do marketers achieve this? 

Marketers start by acknowledging that they're appealing to a group of human beings who run on emotions. Human beings are suckers for rewards. So capitalizing on this piece of information, marketers find a way to emphasize on the outcome consumers can achieve with a particular product or service.

Customers also have a soft spot for honesty from brands. Therefore, by addressing a product's flaws, advertisers hope to gain the trust of the customers.

Teenagers aren't the only demographic that has the proclivity to make impulsive decisions. In fact, researchers have found that most people, when it comes to making purchases, are averse to risks and loss - which convinces them to make impetuous decisions. This makes combinations of words like "Buy Now" very compelling. Because they want to get it while they still can. 

"So what if I do spend the next 10 minutes reading this article? I'm supposedly going to benefit from it for the rest of my life, right?" 

When a product succeeds to justify its purchase, the customer relies on the producing company with other needs as well. This gives the company a competitive advantage over the others which they can exploit. 

A smart producer would start off by fulfilling a small promise and executing it with near perfection. By delivering to small requests, the company gains an audience to grow on. This audience, then, does the work of marketers by recommending it to their friends and family.

This is known as word of mouth. It's how most small entrepreneurs get around in the market. 

Marketing is a great profession as it gives deep insight into how people work and think. For example, using the color blue has been known to plant trust in the minds of people. There is no way of generalizing, though. That's what makes marketing so much fun.

The element of unpredictability keeps advertisers experimenting. Different strategies are always employed to rope audiences. Words and images are strategically used at the right places where their unique effects are accentuated. 

Marketing lies at the intersection where business and psychology meet.