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Consumer Pricing_Module 5 - Flipgrid #5

Consumer Pricing_Module 5 - Flipgrid

Q Can you bring an example of a consumer promotion that you regard as effective, and do not relies on a price discount? Why is the promotion effective? What are the downsides of such promotion? How could you have made the promotion different or better?

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One of the effective means in order to acquire new consumers is to give away products for free. This may appear to be counterintuitive but giving products away may be more beneficial actually to the bottom line in comparison to discounting. Providing samples for free can be regarded as a technique for new products to be introduced to the marketplace. The consumer may be given an opportunity by providing samples for free to observe how well the product is liked by them or how well something is tried by them that wouldn’t be purchased by them normally. Sampling is used as a portion of bigger campaign of marketing which consist of radio advertising or local newspaper. The free samples functions to raise the incentive to purchase while the risk perceived is decreased.