EPF U6L2- Psychology & Marketing

Psychology and

Marketing

EPF.CC.1.1

Table of contents

01


What are some of the many ways companies utilize psychology to increase product sells?

Psychology and Marketing

S1: Bell Ringer

● What were some of the propaganda

techniques we discussed in class yesterday?

S2: Color psychology

Color Psychology

●What is color
psychology?

●How can
businesses utilize
color psychology
to help sell
products?

Open Ended

What is color Psychology?

Multiple Choice

______ is one of the most preferred colors with the most positive connotations.

• White

• Green

• Blue

• Yellow.

Multiple Choice

If you’re looking to have a really powerful presence or get someone’s attention fast, _____ is your color.

• orange

• purple

• red

• yellow

Multiple Choice

Whenever you need to lift someone’s spirits, increase their confidence, or provide inspiration, use ______.

• orange

• purple

• red

• yellow

Word Cloud

How can businesses utilize color psychology to help sell products?

S3: Fomo

Psychology of FOMO
FOMO in Marketing

●What is FOMO?

●What is is loss
aversion and how
does this impact
people decision
making process?

●How can businesses
use FOMO to
increase product
sales?

Multiple Choice

Michael observed he felt the pain of losing a $20 bill more than he felt the joy of finding it on the sidewalk the week before. This is a result of...

• overconfidence

• sunk cost

• endowment effect

• loss aversion

Multiple Choice

You are shopping on Amazon for a new pair of shoes. You find the perfect pair, beneath the picture is text that says "Hurry! only 1 left in stock." Which loss aversion strategy is being used?

• Trials and Samples

• Buy now, Get free

• Scarcity and Urgency

• Coupons

Multiple Select

Which of these are examples of loss aversion tactics? (select multiple answers)

• Progress Bars

• Buy now, get it tomorrow

• Protect people from loss

• Buy now, get X% off!

• Buy now, offer ends soon!

S4: Repetition aka Mere exposure

effect

Mere Exposure Effect in
Marketing

●What is the Mere
Exposure Effect?

●How can
businesses use the
mere exposure
effect to help sell
more products?

Multiple Choice

According to the mere-exposure effect, what bias does exposure to a stimulus over time create?

• A. Bias towards novelty

• B. Bias towards familiarity

• C. Bias towards risk

• D. Bias towards uncertainty

S5: Shelf Placement

Cereal Placement
Slotting Fees

●How does product
placement on
shelves help
increase product
sells?

●How does eye
contact also
influence product
sells?

Multiple Choice

What height is children's cereal placed at in the supermarket?

• 42 inches

• 23 Inches

• 30 inches

• 54 inches

Multiple Choice

Why do characters/people on adult cereal boxes look straight at you while children's boxes look down at you?

• Adults are usually lower to the ground

• Children look straight at adult boxes and so they are comforting

• Making eye contact makes you more likely to buy something as an adult

• Children's cereal is placed high on the shelf, so characters look down at the kids

S6: Selling Experiences

Fyre Festival Ad
Philosophy of Fyre Festival
and the Experience
Economy https://www.youtube.com/watch?v=ASoaHKRGXu4

●Why did people buy
tickets to Fyre
Festival?

●How can businesses
utilize the idea of
selling experiences to
increase sale of their
products?

Multiple Choice

Where was the Fire Festival originally marketed to take place?

• Jamaica

• Bahamas

• Miami

• Hawaii

Multiple Choice

Which luxury amenities were promised to guests at the Fire Festival?

• No amenities were promised

• Private jets and yachts, beachfront villas, meals by celebrity chefs

• Camping tents, cheese sandwiches, limited food and water

• Public transportation, fast food, shared accommodations

Multiple Choice

How did guests react when they arrived at the festival site?

• Chaos and confusion, looting of tents

• Excitement and joy, immediate partying

• Disappointment and anger, demanding refunds

• Surprise and disbelief, exploring the island

Multiple Choice

What was the main marketing strategy used for the Fire Festival?

• Social media influencers

• TV commercials

• Billboard ads

• Newspaper articles

Multiple Select

What were the main factors that led to the failure of the Fire Festival?

• Insufficient funding

• Dishonest marketing campaign

• Unrealistic timeline

• Organizers being inexperienced

Open Ended

Choose the marketing technique discussed today (Color psychology, FOMO, Mere Exposure, Shelf Placement, or Selling experiences) that you believe to be the MOST effective, and explain why.