Learning about Smart Marketing the Smart Way
Have you ever wondered what makes Coke so much more popular than any other cola-based soft drink in the market? Most of this popularity and emotional attachment can be contributed to targeted advertising. Marketing companies combined advertising with smart marketing campaigns to create a ‘down-home American’ brand image for Coke which has managed to stay popular over the ages. Every year, companies release thousands of products into the consumer market but not many of them manage to reach the iconic status of Coke even with advertising and marketing campaigns.
Why? Is this Because of Behavioral Science?
Yes, behavioral science is based on a combination of psychology, sociology, and anthropology. Simply saying, the science attempts to understand human behavior and predict it based on real science methodologies and practices. By applying these principles to marketing, you can understand what drives a consumer when he or she goes shopping, why consumers act the way they do, and how you can make a brand much more popular among a particular consumer group. This may seem difficult but it is quite straightforward and simple.
For example, social scientists have noted that people naturally gravitate towards the middle. That means more people walk into the center stall of a store and almost 90% of people prefer to buy mid-priced bottles of wine, mid-priced clothes and even mid-priced service plans. Yes, consumers may justify this as saving money but this behavior is actually based on human nature. We don’t like to be far ahead or too far behind. The center is just perfect as figuratively saying, it’s not too hot or too cold but it’s just right. It comes down to the simple fact that as marketers, you have to use what science has proved to be right about human behavior.
Behavioral science can be used to create a critical difference to a product’s sale and it may help in creating a distinct identity and brand in the eyes of the consumer. In fact, even the Obama administration has understood the impact of behavioral science on consumers. The administration now uses Cass R. Sunstein, co-author of Nudge, to make their tax policies much more acceptable to taxpayers.
Learning about Behavioral Science
As a marketer or a company owner, it does seem apparent that you should know how behavioral science can help your company or your brand link up with consumers. Attending an event like the SMART MARKETING EVENT to be held in London on December. Attending the conference will provide you with a comprehensive overview of the promising new field and help you get a valuable edge over your competitors through targeted marketing campaigns. er 2 and 3, 2014 is the simplest way to get a head start. Industry professionals like Steve Genco, author for Neuromarketing for Dummies; Phil Barden, Author of Decoded: The Science Behind Why We Buy; Nick Southgate, Behavioral Economics Consultant at the Institute of Practitioners in Advertising; Thom Noble, Neurostrata; and many more will be sharing their expertise on smart marketing at the conference.