The virtual BMI meeting was held on 8th December 2021, where the students were addressed by Mr. Prem Shankar who is a young and energetic speaker. He delivered his speech on the topic, “Psychology and Marketing -Understanding how we make the buying decisions”. He briefed on how to understand psychology and how does it help in marketing.
He also spoke about the marketing funnel consisting of five components that includes Awareness, Interest, Desire, Action and Retention. His main agenda was to speak about how psychology paves the way for a customer’s buying journey. The ways how a brand puts a thought onto the minds of the customer and thereby making them to desire the product. The most natural end point of desire is consumption. And thereby by understanding the psychology of the brand image of the consumers, any marketer will be able to influence the buying process of the consumer