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How to Integrate Psychology Into Your Marketing

How to Integrate Psychology Into Your Marketing | Aspect 2 and 3 | Scoop.it
How do you market your company? You probably try to optimize your site for search engines, try some content and social media marketing, test out a few paid
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Austin Schade's comment, April 1, 2014 10:29 AM
A very common tactic when selling something is to use future pace. This is when the person selling tries to get you to look at the future outcome of the product rather than the actual purchase.
Austin Schade's comment, April 1, 2014 10:31 AM
Another commonly used tactic is getting people to commit before actually committing. Companies set up websites and other advertisements to get you in the mindset of buying. Once you are already thinking about buying, their job is a lot easier. The product can then sell itself.
Austin Schade's comment, April 1, 2014 10:32 AM
Telling the customer about your product/service is one of the best ways of convincing. Being able to answer why your product is so great will help to make a sale.
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Psychology of marketing

Psychology of marketing | Aspect 2 and 3 | Scoop.it
Examining the psychology of purchase decisions
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Austin Schade's comment, April 1, 2014 10:24 AM
Consumers typically make two types of decisions when buying an item. These are rational decisions and emotional decisions. Rational decisions are where a consumer buys a product because it makes sense. Emotional decisions are where a consumer buys something based on what they feel.
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How to Set a Marketing Budget that Fits your Business Goals and Provides a High Return on Investment | SBA.gov

How to Set a Marketing Budget that Fits your Business Goals and Provides a High Return on Investment | SBA.gov | Aspect 2 and 3 | Scoop.it
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Austin Schade's comment, March 6, 2014 10:24 AM
Deciding on how much you need to market depends on a few things. These include the industry of your business, the size of your business, and your growth rate. These are all key factors in deciding how much a company needs to budget for marketing.
Austin Schade's comment, March 6, 2014 10:29 AM
For small businesses with around $5 million in revenue they should plan on spending 7-8% of their income. The way marketing budgets get spent is in two main categories. These categories are brand development costs and the costs of promoting your business.
Austin Schade's comment, March 6, 2014 10:32 AM
Brand development costs include blogs, social media, and websites. While these are free to have most of time, usually a company will have people running them. The costs of promoting your business include campaigns and advents.
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Marketing Strategy: Communications Strategy: Business Strategy: FrogDog: Article: How Much Should Companies Budget for Marketing? - FrogDog

Marketing Strategy: Communications Strategy: Business Strategy: FrogDog: Article: How Much Should Companies Budget for Marketing? - FrogDog | Aspect 2 and 3 | Scoop.it
Businesses commonly ask how much they should budget for marketing each year. There are rules of thumb, and there are also numerous attenuating factors for each company to consider.
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Austin Schade's comment, March 6, 2014 10:04 AM
The average business looking to maintain their current amount of sales should plan on spending roughly 5% of their annual revenue. A company looking to expand and grow should plan on spending about 10% of their annual revenue. Companies that are in a very competitive market typically spend more than that. These types of businesses may spend anywhere from 20-50% of their annual revenue on marketing. These types of businesses include retail and pharmaceuticals.
Austin Schade's comment, March 6, 2014 10:08 AM
The biggest concern about marketing is whether or not the invested money will bring in more revenue for the company. This question is hard to answer since many different marketing tactics take different periods of time to start getting results. Some techniques such as branding may take a decade for consumers to catch on to. There is usually a snowball effect where the results get bigger the longer the strategy has been implemented.
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Marketing and Finance: From Adversaries to Allies - Chief Marketer

Global competition, commoditization, market fragmentation, and the Sarbanes Oxley Act have all converged to create an environment requiring companies to create better processes, address controls, and assess risk. In addition, zero-based budgeting has become the norm. This convergence marks a new age for marketing in the 21st century; The Age of Accountability.
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Austin Schade's comment, March 12, 2014 10:44 PM
Since marketers are always coming up with new ideas, they need the finances to aid them. Financial advisors want to see that the money being invested into marketing is paying off so there is a constant need to prove the increased revenue. With smart investing in marketing a company can make the marketing department and the finance department powerful allies.
Austin Schade's comment, March 12, 2014 10:47 PM
Before marketers borrow money they need to be able to answer a few questions. One of the main questions is "What other opportunities will this impact?". This is a great questions because an advertisment can have an impact on many different things.
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Consumer Psychology - The Science of Consumer Behavior

Consumer Psychology - The Science of Consumer Behavior | Aspect 2 and 3 | Scoop.it
Consumer psychology studies how and why we buy goods and services. Learn more about how psychologists study the science of consumer behavior.
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Austin Schade's comment, April 1, 2014 10:22 AM
The psychology of marketing revolves around a few main questions. For example, What makes one product appeal more than another? And, How does a product emotionally impact the consumer?
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The Psychology of Color in Marketing and Branding | Help Scout

The Psychology of Color in Marketing and Branding | Help Scout | Aspect 2 and 3 | Scoop.it
The psychology of color as it relates to persuasion is one of the most interesting—and most controversial—aspects of marketing.
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Austin Schade's comment, March 28, 2014 10:15 AM
Researchers have found that colors have to fit the personality of the brand or else color marketing will not be effective. Our brains also use colors to point out brands that we recognize. By using consistent colors a company can make an effective brand.
Austin Schade's comment, March 28, 2014 10:19 AM
Colors do not give off just one feeling. Depending on the company a color can symbolize many different feelings. For instance, green could be used to represent environmental issues or it could be used in a financial advertisement. Brown for example can be seen as rugged or it could appeal to your appetite like in chocolate commercials.
Austin Schade's comment, March 28, 2014 10:24 AM
The environment and culture of an area can play a big role in the impact of colors. Some colors associated with certain cultures will be more appealing than others. Gender will also play a role in color schemes. For example, purple is very rarely a mans favorite color therefor you will not see purple power tools.
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Cost of Marketing: What Is the Average Budget? | LegalZoom

Cost of Marketing: What Is the Average Budget? | LegalZoom | Aspect 2 and 3 | Scoop.it
As today's savvy businesspeople know, to have a strong business people have to know who you are and what you offer. You need good marketing. The first step is a marketing budget to help you figure out practical steps to achieve those goals. But, how much should you spend? from LegalZoom.com
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Austin Schade's comment, March 6, 2014 10:13 AM
Businesses vary in the amount of money they spend on marketing. This can range anywhere from 1-30% of a companies annual revenue. Some things they have to pay for when talking about marketing are broadcast advertising, brochures, and newsletters. Some businesses may tend to only spend as much money as their competitors.
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How Much Does Marketing Cost? | Joey Sargent

How Much Does Marketing Cost? | Joey Sargent | Aspect 2 and 3 | Scoop.it
Do you know how much marketing costs? How much should it cost? What should you pay for good advice when it comes to your marketing strategy?
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Austin Schade's comment, March 5, 2014 10:12 AM
Marketing plans are expensive investments for any business. These extensive plans can cost any where from a few thousand dollars for small businesses, to millions of dollars for large companies. Having a solid plan is a must while dealing with this type of money. But even with a solid plan your marketing strategy can fail. It is essentially a gamble at some points.
Austin Schade's comment, March 5, 2014 10:19 AM
Many people lean towards social media to market their business. While it is an effective and free way to broadcast it is not always the best. Social media marketing takes a huge amount of time due to needing consistency. It may not be worth your time if you are a small business unlike large corporations that can spend money on people who specialize in that.