Integrated Marketing Communications – Meaning and its Components
It is essential for organizations to promote their brands well among the end-users not only to outshine competitors but also survive in the long run. Brand promotion increases awareness of products and services and eventually increases their sales, yielding high profits and revenue for the organization. To understand integrated marketing communication, let us first understand […]
Designing and Implementing Branding Strategies
Customer based brand equity is created when brand knowledge comprising of brand awareness and brand image are at highest level in customer mind. Brand awareness level is raised in customer by first understanding consumer taste, preference and present level of awareness. This analysis leads to designing of marketing programs and outcomes of those programs are […]
What is Perception Management and why it is Important for Organizational Success
What is Perception Management and Why it is So Important for Corporates We often hear the term, perceptions matter more than reality bandied about in the media and in organizational behaviour textbooks. In addition, we also come across how marketers and branding experts often indulge in perception management wherein they create a positive climate for […]
Sources of Data
Sources of Primary Data The sources of generating primary data are: Observation Method Survey Method Experimental Method Experimental Method There are number of experimental designs that are used in carrying out and experiment. However, Market researchers have used 4 experimental designs most frequently. These are – CRD – Completely Randomized Design RBD – Randomized Block […]
Relationship Management and Green Marketing
The world attention once again has turned to Durban where the countries are meeting to try and resolve the crises that our World is facing today in terms of Global warming and Energy crisis. Environmental protection as well as Prevention of cruelty to Animals too have been global agendas making news all the time. Though […]
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.
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Challenges to the Retail Sector (As per Michael Porter s Five Forces Model)
February 12, 2025
