Week 6 ICA MKT2291 Consumer Promotions

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Algonquin College *

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2291

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Marketing

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Feb 20, 2024

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docx

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Week 6 MKT2291 Consumer Promotions ICA 1) Select and evaluate a recent (within the last 12 months) consumer promotion tactic that you thought was effective. Include your rationale. * Consider looking into similar product categories as your Major project. HelloFresh's latest promotion is an excellent example of a well-executed marketing initiative. The offer includes a free breakfast item for life, which is a unique and attractive proposition that sets HelloFresh apart from competitors. The promotion is also tied to an active subscription, which encourages customer loyalty and repeat business. Additionally, the $140 discount is a powerful motivator for both new and existing subscribers. Overall, this promotion not only enhances customer satisfaction but also has the potential to generate positive word-of-mouth marketing, which could contribute to HelloFresh's market presence and customer acquisition.

2) Identify the consumer sales promotion objective of the above tactic. (see text page 385) The consumer sales promotion objective of HelloFresh's innovative tactic, offering a perpetual free breakfast item alongside a substantial $140 discount for active subscribers, is strategically centred on cultivating customer retention and loyalty. By intertwining the promotion with an active subscription, HelloFresh aims to create a compelling reason for existing customers to prolong their engagement with the service. The provision of a free breakfast item for life not only adds a unique and enduring value but also fosters a sense of loyalty as customers perceive a continuous stream of benefits. The $140 discount, acting as an immediate financial incentive, not only entices existing subscribers to renew but also attracts potential customers seeking an attractive entry point. This multi-faceted approach not only seeks to reduce churn but also enhances the overall customer lifetime value. Moreover, by offering distinctive and valuable perks, HelloFresh strategically positions itself to differentiate from competitors and stimulate positive word-of-mouth marketing, thereby contributing to organic growth and market presence. Would this be an effective strategy to contribute to your Marketing Communications Objectives? How? Consider your target market’s psychographics, behavioural segmentation, and media consumption habits. Considering the unique characteristics and demographics of Skechers, a loyalty program may not align with the marketing communication objective aimed at shifting the perception of the Skechers Sport Court 92 "Ottoman Shoe." Skechers' current demographic may not be the target audience for typical loyalty programs, which often cater to different consumer behaviors and preferences. Instead, offering limited-time promotions, such as exclusive discounts or bundled deals, can create a sense of urgency, and drive immediate interest among the target audience. Utilizing social media platforms for flash sales or online contests can encourage user participation and generate buzz around the Ottoman Shoe within the younger consumer base. Additionally, implementing a referral program, where existing customers are incentivized to refer friends, can tap into the social connections of the younger demographic, leveraging word-of-mouth marketing. Please include these ideas in your team’s next meeting. Review next Installment Consumer Promotions component.

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