...Ta Dieu Ngoc Tram - 3TC15
The Psychology of Color in Marketing
The world is painted with colors which are generally appreciated for their artistic facet. However, the beneath value of colors is beyond aesthetics, for they, to certain extent, have always inspired emotions and manners of human beings. In fact, O'Connor (ed. 2015, p.1) stated that color psychology, a branch of scientific study, had successfully illustrated the causal relation in that colors influenced human in three major ways including affective, cognitive and related behavioral aspects. A recent study (Singh 2006) reveals that 'people make a subconscious judgment about a person, environment, or product within 90 seconds of initial viewing and that between 62% and 90% of that assessment is based on color alone'. Therefore, the power of color, which is undoubtedly significant, has been wisely utilized in marketing field for decades. This research paper, with the aim of helping amateur entrepreneurs develop proper marketing strategy, will discuss the importance of color in marketing and suggest ways to apply it effectively.
2. Discussion of findings
2.1. The power of color in marketing
Color, along with its psychological effects, has proved to be efficient in terms of increasing brand recognition, attracting customers' attention and affecting conversion rate.
Primarily, consumers have an inclination of considering a logo as the representative of a company, which indicates that an exclusive brand trademark is extremely important. A related study (Abril et al. 2009) found that each color carries an inherent meaning which becomes fundamental to brand identification and conveys 'a desired image'. Indeed, according to the University of Loyola, Maryland (cited in Morton 2010), the recognition of a brand can be advanced up to 80% simply with the employment of color. Furthermore, practical observation from branding history suggests that major companies often use colors to differentiate themselves from others in the same marketplace. The most classic illustration of this is the case of Coca-cola and Pepsi - two famous enterprises in the global beverage industry. Established later than Coca-cola nearly a decade, Pepsi Company attempted to distinguish itself from its primary competitor by choosing blue as the dominant color for its logo which is apparently opposite the color red of Coca-cola trademark (Labrecque & Milne 2011).
Besides an exceptional look, the logo of a company as well needs to be sufficiently remarkable in order to capture customers' minds with good impression. Kauppinen-Raisanen and Luomala (2010, p. 305) pointed out that consumers use colors as a means to identify known brands and seek for the new alternatives. In other words, clients tend to look for familiar tones of color if they wish to find popular labels and unfamiliar color combination if they desire to discover a new one. This finding is a crucial foundation on which a number of good color choices are based. In fact, new enterprises emerging from commercial market prefer different color schemes for their logos whereas off-brand companies might consider using those that are similar to well-known associations (Kauppinen-Raisanen & Luomala 2010). However, it is also evident that companies sharing the same target market have the tendency of employing the same color combination because of the same purpose of catching buyers' attention. As is demonstrated by Labrecque and Milne (2011, p. 713), definite 'semantic meaning' is attached to definite colors, which is a plausible explanation for the fact that 'certain product categories become associated with specific colors'. For instance, a majority of diverse fast-food chains such as McDonald's, KFC, Pizza Hut and Lotteria all choose red as the controlling colors for their trademarks, for this hue can encourage appetite and stimulate hunger. On the other hand, blue is greatly favoured by social network sites as it brings a sense of constancy, trust and tranquility; meanwhile, high-fashion brands prefer black and white as they express modern yet tradition, elegance yet sophistication (Seow 2016).
2.2. Tactics for successful color application
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