Label your initial response sections part 1 and 2.
Part 1: Coupons
Read the following article: “The Psychology of the Coupon: Do they Really work?” By Jeff Shavitz January 15, 2018. https://www.bizjournals.com/bizjournals/how-to/marketing/2018/01/the-psychology-of-the-coupon-do-they-really-work.html
Post your own original coupon content based on one (1) of the three following products:
Product 1: A new organic shampoo that also repairs your hair
Product 2: A kid’s meal special at a local restaurant
Product 3: Free shipping for tools purchases over $50.
Access a .
Checklist:
- Provide details and the content of the coupon
- Specify the offer made
Alternatively, you can upload a picture of your coupon by attaching it to the discussion.
- If you owned a business, would you use coupons? Why or why not?
Part 2: Promotional Tools and Brand Loyalty
There are many other types of promotional tools that are found in marketing communications; these include sales promotion, coupons, BOGO*, contests, sweepstakes — just to name a few. Consumers have preferences concerning what types of promotional tools they would rather have used, what is most effective for them, and what is most effective in business for this consumer.
- Which promotional tool is most effective in gaining your loyalty over time for a product? Provide an example and explain your answer.
*BOGO = According to Merriam-Webster Dictionary online (2020), this is a sales promotion that allows you to either obtain an item for free or at a lesser price when purchasing another item at the full price.
Merriam-Webster (2020). Merriam-Webster.com dictionary. Retrieved July 22, 2020, from https://www.merriam-webster.com/