Individual Irrationality

I was recently exposed to Personality Typology. I instantly found a parallel with Advertising in trying to determine how people generally behave. And if a marketer can predict certain behaviors to a large enough degree it should be able to tailor products and marketing styles to be successful.

But I am always reminded that individuals do not always behave as predicted. There is a large enough percentage of sales from irrationality and pure luck to prove this. These are impulse sales for right place, right time, right price. You are on a business trip and the restaurant for dinner is two blocks from your hotel, the menu prices were within your per diem budget, and you don’t have to wait to be seated.

Brands can capitalize of Individual Rationality by creating Ad Campaigns that promote it. Luxury Brands and Upscale Services can benefit when people splurge even when they shouldn’t due to their lack of spending power. The object though is to figure out the right channel for the right price. Why waste your Ad Dollars on fringe sales. But a campaign message can be crafted for the Advertising done on more Mass Channels such as local publications. If your forced to make a Media Buy just to support your Presence in people’s minds use the opportunity wisely. And yes every Media Buy is an Opportunity and should be viewed as such.

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About chiefalien

Howie Goldfarb with 20 years of Sales and Marketing experience founded Blue Star Strategic Marketing in central Vermont to serve as the objective and strategic adviser of brands to help them grow and thrive. His Degree in Finance and 14 years of B2B sales to Fortune 500 companies gives him a CFO’s view of marketing. Thus bringing a dose of reality to the confusing world of jargon, spin, and hype. Also playfully known as the Chief Alien of Blue Star Strategic, Howie relishes his role as an industry outsider. A native New Yorker and former Angelino, he currently lives in the Green Mountains of Vermont and is still seeking his first moose sighting. His passions are living life, art, music, the outdoors, he tries to cook and loves the Vermont Fresh Network – local sustainability initiatives like farm to table and buying local.
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