You usually expect psychological marketing techniques to be used by door-to-door salespersons and telemarketers. Recently though I heard about how some big toy companies use an interesting technique to get parents to buy more toys for their kids.
This particular method struck me as pure genius and grew into a must-share-now story for my blog!
Toy companies play ADs about their ‘coolest new toy’ during kids TV shows, and that usually ends up with the kid bugging their parents into buying it for them. The parents usually oblige (most likely as a Christmas present) and the common pattern or might I say ruling is that the kids can’t get any new toys for a while; which equals a drop in sales in the months following Christmas.
Now playing more, new ADs for the kids isn’t going to change anything — the parents have decided that they simply won’t buy anymore toys for a while. So a few toy companies came up with the following marketing strategy to boost sales even after the seasonal gift-rush.
What they first do is ramp up their advertising during Christmas season so that the usual flow of parents rush into stores hoping to buy their kids the advertised toy. Now here comes the crafty part— instead of supplying the demand the toy companies provided very limited stocks of these new toys; so parent instead buy the next best alternatives (of which they provide plenty) and explain to their kids that the toy they asked for was out of stock. Once the seasonal month is up the toy companies once again ramp up the advertising along with stocks for the original toy and now when the kids bug their parents they usually make the argument that the parents promised them this specific toy, and a large number of parents end up buying them those toys again just to keep the promise they made to their kids.
The psychology behind this strategy is quite simple, and it’s simply amazing how well this technique works for these crafty companies. By simply causing the parents to commit to their children for a specific toy they end up making twice the number of sales even after Christmas!
Featured photo source: http://collabcubed.com/2012/06/14/the-secret-life-of-toys