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Psychology and business seem to be two separate schools of though that opposes each other regularly. One branch of theory seems to be associated with helping people while the other tries to sell to them. However, psychology is intimately wrapped in business from the presentation to the actually sale. Without humans and their emotions, feelings, and motivation there would be no business. Listed below are a couple of theories every business that engages in sales should consider. Theory of Planned Behavior: The theory postulates that people’s favorable and unfavorable impressions of the product, people’s social pressure, and ease of obtaining the product/object all account for an action. The goal of any business is to encourage people to take action. When a product gives a favorable first impression, other people have or encourage people to buy this product (social pressure), and the methods of obtaining that object are easy people will buy it. For example, I am selling advertisement to the New Business World Blog (NWBW). When people first see the site they enjoy its content and layout. A prospective company that wants to advertise looks at the other advertisements that are currently available and notice they are from large and reputable companies. Finally if the process is easy for them to order there is likely to be success in getting a substantial percentage of corporations to advertise. Theory of Reasoned Action: The Theory postulates that people’s personal beliefs and attitudes account for people’s decision to purchase. For example, if a person complains about technology there is little likelihood you could sell them the latest and greatest cell phone. However, if a person believes that people should control their own environment and should protect themselves financially or legal you will have an easier time marketing products. Another influence on an individual’s personal believes is celebrities and well-known figures. This is one of the reasons why McDonalds and other corporations spend a lot of time soliciting “big name” celebrities to be used in their advertisement. People who enjoy this celebrity will be highly motivated to purchase the product. The more credibility a person has the more people will purchase. Psychology, business and marketing are not mutually exclusive thoughts. Each of them intertwines. Business and marketing is about motivating people to act or purchase a product/service. Psychology describes human behavior thus it makes sense to understand psychology and develop a marketing strategy around it. Murad Ali is a three time published author, a Ph.D. candidate, and a human resource manager. http://www.thenewbusinessworld.blogspot.com
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