Purpose of This Course
The purpose of this course is to introduce several basic principles in psychology and show how they relate to, and can be applied to advertising and marketing in the business environment.
It is important to all business owners to consider more than just cold, hard statistics when developing marketing plans and strategies, and creating advertising campaigns. Even more important than statistics, is having an understanding of how customers think in order to better target and serve industries and unique markets.
Course Syllabus
- Advertising and Marketing Psychology Study Course – Lesson 1. The Psychology of Buying: Customers Are People, Too
To understand how the psychology of consumers can work in your best interest, you must also understand the psychology of the nature of your own business.
- Advertising and Marketing Psychology Study Course - Lesson 2. The Principle of Reciprocity and How it Applies to Business.
The Principle of Reciprocity describes a human need for give and take in a relationship. In order for the “gift” to have the most meaning, it needs to be offered without the expectation of return. In business, there is an expectation of return so relationships should also be built on trust by offering customer service policies that inspire that trust.
- Advertising and Marketing Psychology Study Course - Lesson 3. The Pleasure Principle and How it Applies to Marketing and Advertising .
The Pleasure Principle can be used to develop advertising and marketing strategies. It is important to understand the Pleasure Principle in order to understand how your customers think and to reach more customers.
- Advertising and Marketing Psychology Study Course - Lesson 4. The Scarcity Principle.
The Scarcity Principle describes the urge to purchase, gather, or obtain something that a person feels that they may not be able to get in the future. If you can successfully create an aura of envy associated with your product or service, consumers will want it all the more – especially, if the item is already limited and a sudden increase in sales creates an even scarcer product.
Additional Reading
- The Butterfly Effect in Business Relationships – The Importance of Treating Customers, Employees, and Stakeholders Equally
- The Dangers of Using Stereotypes in Advertising and Marketing – Customers Are Not Statistics
- What is the Difference Between Advertising and Marketing?
Resources
To discuss this course with other participants, ask questions, or make suggestions about how to improve this course, visit Women in Business forums.
