Psychology

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Human Psychology in Marketing

These principles highlight the importance of understanding human psychology in marketing, leveraging scarcity, social proof, and the need for consistency to influence behavior effectively.Scarcity and Urgency: People tend to value things more when they are scarce or when there is a fear of losing them. Examples include limited-time offers or colleges with limited seats. The perceived quality of so...

The laws of psychology in marketing

A short story from the book, Alchemy:The advertising agency, J. Walter Thompson, had a particular test for aspiring copywriters. One of the questions was simple: ‘Here are two identical 25-cent coins. Sell me the one on the right.’ One successful candidate understood the idea of alchemy. “I'll take the right-hand coin and dip it in a Marilyn Monroe bag”, he said. “Then I'll sell you a genuine 25 c...