| Topic : Premium brands |
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Activity:
99 views;
last activity : 07 06 2010 20:18:09 +0000
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Instead of Price slash Giving something Extra is a more positive way of promotion
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OFFER BUY 1 GET 1 INSTEAD OF 50% DISCOUNTING
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They should not go below 15-20%
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People pay for Premium Brands since they have high trust on quality of the product. Premium brands are also bought for status and aspitational value. When these Premium Brands offer 50% to 70% discounts some customers might get a feeling that these brands are pricing their products much higher than the actual value of the product. So I feel premium brands should avoid these kind of promotions since the equity they derive out of creating a premium Brand will be adversely affected. When you give something Extra with existing brand it will have a positive impact on the brand..Customers know that the offer is adding value and take advantage without having negative feelings about the brand. |
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Agree,brand is something which has a huge popularity among customers because of its high quality and if they start giving these huge discounts then there is a risk as customers can also think that may be the quality is reduced and people are not buying it that's why they are offering the discounts for getting sales.Instead they should look for other ways to counter the sales problem in bad times.
Also add to the fact that some retail chains (Shubhiksha) have shut down adding to the volumes being idle at the depots. The premium brands in foresight have to start offering huge discounts mainly to liquidate excessive stocks. Offtake form the shelf has not decreased, what I have noticed is that the use of plastic (read: Credit cards) has in fact increased.
So slowdown or not, have money will buy!!
Yes i too agree with you Jay that all these brands are doing these huge discount sales, and its mainly due the gloomy market where people are not spending anymore and but for the time being they might get the sales done, but in future people will have apprehensions about the product when they increase the price, and a brand will feel difficult to do that, so slashing prices is a bad idea for the brands, but to stay in business one is resorting to such things, its like they have to do it to survive the recession period..as they are having very limited options to stay in business.
And one more thing Jay this could easily have been a debate contest, where people would have given more comments on the topic of yours...
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I THINK CREATING BUY 1 GET 1 IS BETTER OPTION INSTEAD OF 50% DISCOUNT B"COZ IT GOES IN THE SAME CALCULATIONS WHERAS THE SELLER CAN SELL 2 OF HIS PRODUCTS INSTEAD OF SELLING 1 TO THE SAME CUSTOMER WHICH WILL RAISE HIS UNIT SALES. |
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yes this is great idea rather than going for discount prices...with this there will more sales of products...i totally agree with Akbarali........
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They should not go below 15-20%, Its harakiri of Brand. Some years back suddenly Apple reduced the price of iphone. It had to return the money to earlier buyers. |
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