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Enterprises Should Refine Four Practical Marketing Skills.

2010/9/30 10:14:00 100

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September 30th, marketers have been using behavior.

Economics

But often unconsciously.

This is because they are effective, but not because they are effective.

Marketing

What kind of scientific research has been done by businessmen proves that people prefer the seemingly free reward, dislike the same price discount, or prove that people often behave irrational when considering future consequences.

Although marketing has come to the forefront in the application of behavioral economics principles, few businesses have been able to apply these principles in a systematic way.

A more systematic approach can be of great value for marketers.

Usually, it is called four practical marketing skills, which is an indispensable tool for every marketer.

Relieve people's heartache when spending money

Consumer

In almost every purchase decision, you can choose not to buy it: you can always leave the money and buy it another day.

Because of this, marketers' task is not only to defeat their competitors, but also to persuade shoppers to withdraw money from the very beginning.

According to the principles of economics, the pain paid for every dollar spent should be equally intense.

However, in marketing practice, many factors will affect people's perception of the value of one dollar and affect the degree of pain they feel when they spend the money.

Retailers know that allowing consumers to delay payment can greatly improve buyers' purchase intention.

One reason for the delay in payment is very logical: the time value of money makes future payment cheaper than immediate payment.

But behind this phenomenon, there is another reason which is not so rational.

Payment, like all other losses, is instinctively uncomfortable.

But emotional experience is extremely important at this moment.

Therefore, even a slight delay in payment can reduce the tingling sensation of getting money out immediately, thereby eliminating a major obstacle that prevents people from buying.

Another way to minimize the pain of payment is to understand the ways in which psychological accounting affects buying decisions.

Consumers will divide the money they get from different sources into different "mental accounts" rather than treat each dollar equally as economists think they should or should.

Common psychological accounts include unexpected wealth, pocket money, income and savings.

Usually, windfalls and pocket money are the easiest money for consumers to spend.

Income is not easy to spend, and spending is the most difficult.

Technology has created some new areas of using psychological accounting to benefit consumers and marketers.

Using the power of default selection

There is overwhelming evidence that if a choice is provided as a default option, the possibility of this option being selected will be enhanced.

The default choice is a choice that people do not bother to bother with. It works partly because it gives people a sense of ownership before any purchase occurs, because the joy gained from the harvest is not so strong as the pain felt in the equivalent loss.

When being given something by default, it becomes more valuable than not being given, and therefore less willing to lose it.

Smart marketers can take advantage of these principles.

When decision makers feel indifferent, confused or contradictory when considering options, the default choice is most effective.

In a world full of choices, this principle is particularly useful. A default choice can make people do not have to bother to make decisions.

However, for most people, the default choice must be a good choice.

If you try to mislead the customer, it will only backfire in the end, causing customers' distrust.

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Don't let choices overwhelm consumers.

If it is impossible to give a default option, marketers must be vigilant in choosing "overload", which will reduce the possibility of consumers buying.

Variety is at least two disadvantages to marketers.

First of all, too many choices make it more difficult for consumers to find their favorite varieties and cause potential obstacles to purchase.

Secondly, a large number of varieties will increase the possibility that every choice is shrouded in "negative aura". "Negative aura" is a feeling of being strengthened, as if every option would give up some desired functions and other products can provide.

Reducing the number of choices not only increases people's chances of making decisions, but also makes people feel more satisfied with their choices.

Carefully positioning the first varieties

Economists believe that every kind of thing has a price.

However, the way marketers locate a product may break this formula.

The power of relative positioning explains why marketers can sometimes benefit from providing several apparently inferior products.

Even if these varieties are not sold well, they can increase sales of those slightly better products, which are exactly what the stores want to sell.

However, at the same price, consumers will not buy these products if they are the most expensive ones.

Another way to locate various options is not related to what products the company offers, but rather to the way the product is displayed.

Explains why shelves are seldom arranged according to commodity prices.

Marketers have long known that consumer behavior is affected by irrational factors.

Behavioral economics can improve the predictability of irrational factors.

If we can understand exactly how small changes in product details affect people's response to it, they can often release huge value at a very low cost.