The Effectiveness of Marketing Strategies from the Perspective of Consumer Psychology

Abstract

In the contemporary world economy, marketing has played a crucial role in determining product values. However, it is subject to changes in consumer psychology that are the inevitable outcomes of social developments. The topic this research is to analyze the timeliness of marketing strategies based on consumer psychology in new media era. The investigation is carried on by reviewing existing papers relevant to this topic, thus providing insight into the effectiveness of marketing strategies over time. The sources of information are relevant and recent to keep track of changes as much as possible. The research suggests that pricing strategy is losing its place in modern marketing practices as consumers become favoring emotional values rather than the practicality of products, while social media is gaining popularity in creating commercial values for businesses. Therefore, marketers are recommended to draw up customer-centric marketing strategies that leverage the power of technology, including simplifying promotion content to avoid information overload and depending on the interactions between potential customers to expand influence.