Marketing
•
Marketing •
Marketing:
Marketing is the way that brands advertise, and promote their businesses. The marketing strategies companies use can sometimes have a psychological effect on how likely we are to purchase something. Here are some ways stores encourage consumer activity. The next time you go into a store, pay attention to where these come up!
Eye Level: Stores often place the more expensive products or name brands at eye level, encouraging you to pay more for a product you can likely get for a lower price elesewhere!
Urgency Pressure: “Only three left!” or “Limited Edition!” often triggers us to panic-buy things without much thought. Most of the time, there are more than three left! It is important to think through each of your purchases.
Discount traps: Sometimes discounts can make us feel like we are saving, when we are actually still spending. A $75 sweatshirt that is 30% off is still a $50 sweatshirt.
Checkout: Often, stores will display small items for customers to browse while they wait to checkout. A person is not very likely to spend $500 dollars without thinking, but might by something under $10 without much consideration.