Marketing and Psychology part-2

As discussed in the previous article,behavioral patterns could very well be taken into study to form the base for a marketing strategy.The Business Development Team could work on an idea to differentiate and target the different types of “well off consumers” based on their characteristics(Refer previous article – http://vskills.in/certification/blog/marketing-and-psychology-1/).

For eg: A simple questionnaire could be handed over to the consumers after  making significant efforts to establish a sense of importance to the questionnaire thus getting a vast and genuine outset into the consumer’s behavior patterns.After getting an idea about the characteristics of the consumer,The business development team could execute different marketing plans as follows.

If the consumer is of the” flamboyant and excessively spending type”,the most obvious way would be to charge excessively and exploit the flamboyant nature in terms of schemes so as to put maximum amount of spotlight on the consumer.For eg: Putting their photos on signages and circulars or classifying them as best customers.In short,any such acts of publicity that would boost their ego.In the next article, we’ll think about the remaining types of rich consumers.