Trick or Treat?: Psychological Marketing

<p>Guests:</p> <ol> <li>Gabriel Heron: JAMPRO Vice President&nbsp; of Marketing</li> <li>Dr. Nadia Brown: Global sale and sales expert at the Doyenne Agency</li> </ol> <p>Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business</p> <p>Marketing is a tool used to create and maintain demand, relevance, reputation, and competition. From market research to the implementation of marketing strategies, it is clear that marketing is the driving force behind sales in business. Ironically, it is also an area that several businesses struggle in. Between the lack of resources, conceptualizing and creativity issues, absence of quality leads, and difficulty locating a marketing strategy that actually increases visibility and attracts customers, some businesses have a hard time executing marketing activities. However, there is a silver lining. There are several techniques that help to attract and sustain a target audience; one of which is psychological strategies. Studies have shown that people are thirty times more likely to try a brand if they believe that the brand will deliver emotional, functional, and social benefits.&nbsp; Robert Rosenthal in an article for Fast Company noted “The vast majority of marketers are not psychologists. But many successful marketers regularly employ psychology in attracting consumers.”&nbsp; When used legally and ethically, psychology according to Rosenthal can be used to attract and compel consumers to buy. So the question is, is psychological marketing the only true way to win? &nbsp; Or is there a thin line between psychological marketing and manipulation? Find out in today's episode of Your Business Matters. My guests are Gabriel Heron, JAMPRO's VP Marketing, and Dr. Nadia Brown, Global Sales and Sales Training Expert at the Doyenne Agency.</p> <p>Some of what we discussed include:</p> <ol> <li>The marketing/sales funnel and customer journey.</li> <li>Prominent psychologic