Electronic Relationship
Introduction The rise of the internet and electronic commerce has changed the way in which customer and company interact with each other. The electronic commerce brings together more consumer and supplier, but it eliminates any form of direct and face to face interactions. For this specific reason electronic relationship are considered a formidable challenge for […]
Diversification as a Viable Corporate Strategy
Introduction Diversification is one of the strategies pursued by firms wishing to grow in newer markets and by launching newer products. Diversification usually entails the firms entering new markets in the industry in which they are already present by launching newer products. Note the emphasis on new markets and new products as diversification is not […]
Sources of Brand Identity
SYMBOLS- Symbols help customers memorize organization’s products and services. They help us correlate positive attributes that bring us closer and make it convenient for us to purchase those products and services. Symbols emphasize our brand expectations and shape corporate images. Symbols become a key component of brand equity and help in differentiating the brand characteristics. […]
Big Data and the Power to Predict
Is Big Data a Magic? We often hear the term Big Data being used to describe how online retailers as well as mega corporations are targeting the consumer behavior by having the power to predict, sense, and intuit future consumer decisions. Indeed, Big Data is talked about in hushed tones with a sense of awe […]
The Business Need for Corporate Social Responsibility
Corporate Social Responsibility or CSR makes for eminent business sense as well when one considers the knock-on effect that social and environmental responsibility brings to the businesses. For instance, corporations exist in a symbiotic relationship with their environments (the term environment refers to all the components of the external environment and not to ecological environment […]
The sale of products to the customers from a fixed location (malls, department stores, super markets and so on) in small quantities for their end use is called as retailing.
Coupons play an important role in promoting the retail stores and making the brand popular amongst the masses.
Any document which can be presented to the retailer to gain some kind of financial benefit in the form of discount on any product is called a coupon. Customers can get the coupons redeemed at the specific retail outlets to avail relevant discounts and rebates in shopping.
The concept of promoting products and brands on an extremely low budget is called as Guerrilla Marketing. Guerrilla marketing does not involve huge investments and is one of the most effective ways of creating brand awareness amongst the consumers.
Coupons are an effective tool for Guerrilla Marketing. The retailers can actually create brand awareness amongst the end users without spending much with the help of coupons.
Example - As a part of their marketing strategy, on every purchase of Domino’s pizza, the company offers discount coupons to the buyers. These discount coupons can be availed next time the customer places his order.
In such a situation, it is more likely that he would visit a Domino’s Outlet again to redeem his coupons and avail the discounts on the pizza. He would generally not prefer any other outlet as here in Domino’s he can get pizza at a lesser price as compared to others.
Dominos in this case used food coupons to attract the customers once again into the store.
Any unplanned buying is called as Impulse Buying. An individual might not require a particular product but picks it up out of mere emotions and feelings. Such a buying is called impulse buying. Impulse buying prompts the customer to purchase products which he might not even need that time.
Peter went to a retail store to redeem his discount coupons on shirts. The retailer had smartly displayed perfumes near the cash counter. While paying the bill, Peter could not resist purchasing two perfumes for himself along with the shirts. An example of Impulse Buying.
Your email address will not be published. Required fields are marked *
Challenges to the Retail Sector (As per Michael Porter s Five Forces Model)
February 12, 2025
