Recession marketing: How are companies and consumers adapting to the recession?
Coupons are all the rage during the recession
Free food for a year? Who wouldn’t sign up for that? That’s exactly what companies like Denny’s (win a “Grand Slam for a Year”) around the U.S. are banking on to get customers in their door and spending money during the recession. Subway is giving 71 customers free sandwiches for a year to promote its “Five Dollar Footlong” sandwich. The marketing strategy is cost effective (the promotion adds up to about $260 per year, per customer) and successful. It’s estimated that 30% to 40% of free food coupons are redeemed as compared to just 1.5% to 2% of coupons offering discounts. And speaking of coupons, coupon redemption is up a whopping 27% from 2008. That amounts to the largest year-over –year increase in twenty years since they started keeping records. So, what have we learned? Free food and coupons work in a tough economy (duh)! Let’s find out how companies are adapting and how consumers are responding to recession marketing.
Guests:
Burt Flickinger III, manager director, Strategic Resource Group
Lori Walderich, principal and chief creative officer, IdeaStudio
Carlos Illingworth, manager of public affairs, or spokesperson, VONS
Matthew Tilley, spokesperson, Inmar Inc.
Teri Gault, Founder and CEO of TheGroceryGame.com
- Patt Morrison for April 1, 2010
- An electrifying fight: DWP vs. City Council on the carbon surcharge
- The Big Short: How to make a killing off of financial ruin
- Are national math standards a solvable problem?
- Recession marketing: How are companies and consumers adapting to the recession?
Also on this episode
Events
Comedy Congress Live
Wednesday, February 29, 2012
7:30 p.m.
- 9 p.m.
Tickets for this event are sold out. Please email Forum Coordinator Jenny Smith at jsmith@kpcc.org to be added to the waitlist. Thank you!
The comedic material emanating from Washington D.C., and state capitols across the country, is enough to make any sitcom writer jealous, even if most of that ... » More info
