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The next time you dine out, take a close look at the menu—even if you already know what you want to order. The reason? Restaurants have learned a thing or two about convincing their customers to spend more money on certain dishes. "The use of menu engineers and consultants is exploding in ... more
Some companies seem addicted to email campaigns that shout breathless, time-sensitive offers. Each week, it seems, they tell subscribers about special deals that simply can't be missed—only to make a similar offer the following week. In a post at the Email Marketing Reports blog, Mark Brownlow provides a screenshot with 19 emails ... more
One notable effect of the economic downturn is the marked increase in consumer frugality. Marketers near and far are in hot pursuit of savvy pricing strategies that prod wary customers into buying. Well, here's a tactic that some researchers say is worth a try: "steadily decreasing discounting" or SDD. In a recent ... more
It's a question that haunts B2B product retailers when sales are down: "How do we move this excess inventory?" Cutting prices, offering two-for-one deals, or announcing blow-out sales to regular clients may go only so far in a downturn. Well, take heart. In a recent post at What Works for Business, ... more
Let's say you sell trendy furniture for family-friendly prices. What's the best way to push product and spread brand awareness? Well, you could try developing and offering: A showroom. Pros: People see products in context, and they can buy them right then and there! Cons: You don't reach potential buyers who aren't ... more
Few companies have been spared the ravages of the recession, but some strategies seem to be working to help small businesses stay afloat. In a recent article at Inc., Elizabeth Wasserman suggests tactics that small retailers might employ to add some ho-ho-ho to the late-holiday sales season—and boost results in the ... more
Why would anyone drive a BMW or shop at Nordstrom when, for a fraction of the price, they could drive a Volkswagen or shop at JC Penney? "[P]eople make trade-offs in their spending," writes Dale Furtwengler in his book Pricing for Profit. "They'll pay as little as possible for things ... more
"Having an offer for your products or services that is truly risk-free might be just the ticket you need to really make a difference in your email marketing campaigns," says Janine Popick in a post at her Vertical Response blog. She points to retailers like these that generate customer loyalty and ... more
Free shipping offers can cost your company a bundle, but they may produce ROI that makes them worth the expenditure. As you explore your options, you will probably be interested in a whitepaper from Experian CheetahMail that examines questions like these: Are more companies deploying free-shipping emails? ... more
Want to boost search results? Try benchmarking based on the latest trends, says Performics' Michael Kahn in a Chief Marketer article. An analysis by Performics of data from more than 200 paid-search programs uncovered some important shifts this past spring within many actively managed search campaigns; they could signal the ... more
"Hoping to keep its 119 rooms filled," writes Hugo Martín at the Los Angeles Times, "Hotel Erwin on Venice Beach is offering an unusual promotion for its countercultural clientele: an Ink and Stay package that includes $100 toward a tattoo and a bottle of tequila to numb the pain." The ... more
In the past year, the most fundamental of the 4 Ps of marketing (price) has rapidly risen to prominence. In a way, that is an inevitable outcome of the recent media focus on macro factors that determine the economics of demand and supply—inflation, employment, and income, to name a few. Not surprisingly, ... more
According to Madison Riley and Brooks Kitchel of Kurt Salmon Associates, retailers often respond to sluggish sales by slashing prices and hoping to beat the competition on value. But there's a problem. "Contrary to the common practice of deep discounting in troubled times," they argue, "competing on compelling products is ... more
Everywhere we look, ever since we can remember, we see that price ending: .99. But does using this just-below-a-round-number pricing system always produce optimum results for merchants? Might other pricing options produce better results? Some researchers recently took a fresh look at pricing, and their results suggest it may be time ... more
Consumers have begun to suffer from "green fatigue." It's not hard to understand why when you can buy organic gummy bears and free-range beef jerky nestled between the six-packs and the rolling paper in a convenience store. For your green message to be heard and translated into sales, you have to ... more
In an article at MarketingProfs, Christian Shea challenges the conventional wisdom that those who maintain a robust marketing budget are more likely to power their company through the recession. "Massive consumer-based brands such as BMW, Dell, and Wal-Mart are so tied to marketing as part of their business strategies," he ... more
When spending must be cut, and it's just a matter of determining where, you face a process fraught with potential pitfalls. Here's some help. In a post at Harvard Business Online, Rita McGrath highlights key takeaways from a workshop on avoiding the traps that companies often encounter when trying to ... more
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