MARKETING PSYCHOLOGY IN CHANGING TIME

“Knowing who your customers are is great, but knowing how they behave is even better.” – Jon Miller

- NUPUR PRAKASH BULBULE

What is marketing psychology?

Market psychology refers to the manner in which the market reflects its participants’ collective emotional state i.e. a range of psychological principles are incorporated in market, content and sales strategy.

One key part of being a great marketer is understanding how people think the way they do. Psychology and marketing are lifelong partners. A good marketer always involves psychology in his marketing decisions. Marketing involves intense research on customers’ needs, wants, likes, preferences, etc.

Marketing psychology is important, it can help the brand to communicate better and makes advertising campaigns more relevant. Cognitive fluency helps our brain to process the information more easily. When we process information easily, we absorb information in a faster way.