Wanwanus Punwatanawit

How do marketers use psychological tactics to drive sales?

Started Apr. 15, 2024

Abstract or project description

This project explores various psychological tactics used in marketing to influence consumer behavior and drive sales. Key strategies include:

Color Psychology: Colors in marketing are intentionally chosen to evoke specific emotions and behaviors. For example, red creates urgency, while blue instills trust. Cultural backgrounds also impact color perception, making it crucial for brands to tailor their color choices to their target audience.

Urgency and Scarcity: Limited-time offers and exclusive products tap into consumers' fear of missing out (FOMO), creating a sense of urgency that compels quick decision-making and increases perceived value.

Loss Aversion: People prefer avoiding losses over acquiring equivalent gains. Marketers leverage this by framing opportunities in a way that highlights potential losses from inaction, encouraging consumers to act swiftly.

Anchoring Bias: Initial information significantly influences consumer decisions. Marketers often set high initial prices to create a perceived value, making subsequent discounts appear more attractive.