04 Sep '11, 12pm

Marketing to Misers

Ebenezer Scrooge may have more company this Christmas ( image source ) Penny pinchers. Value-for-money shoppers. Bargain bin hunters. Call them what you may, thrifty consumers have been around since time immemorial. The recent economic onslaught and accompanying rise in inflation will likely increase this group of discount shoppers. In a cash and job strapped situation, everybody - rich and poor alike - will pay more attention to their wallets. Against such a backdrop, how should one adapt one's marketing strategies? Here are some thoughts for consideration: 1) Improve consumer perceptions of your product/service value relative to price. This could be done by communicating dimensions that convey durability, quality, savings (eg utility bills), warranties or other similar benefits. 2) Match and mix complementary products/services while offering attractive discounts. This is...

Full article: http://coolinsights.blogspot.com/2011/09/marketing-to-mis...

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