Promotional risk is winning the marketing promotions contest
Promotional Risk isWinning the MarketingPromotions Contest
The contest to gain the consumers attention and money is on and promotions,which include promotional risk coverage, are winning the game eighty5nine.Smart, strategic moves that provide little risk for companies are paying off inbig ways that build brand loyalty. Did you happen to watch the first game ofthe World Series? If you did, one of the most memorable parts was probablywhen Jason Bartlett, Tampa Bay Rays Shortstop, stole second base in thebottom of the fifth inning. Why would that be memorable? Taco Bell wasrunning the "Steal a Base, Steal a Taco" promotion for the second year.Taco Bells president was there to announce that everyone in the U.S. wouldreceive a free taco on October 28th from 2-6pm.
From a marketing and brandloyalty standpoint, this is a win-win situation. The tacos retailfor eighty-nine cents. Theyprobably cost one third of thatamount. Who can eat a tacowithout a drink? By the time thatmost consumers purchase atleast a soft drink, the restauranthas broken even.
Everybody likes to get something free- both consumers and companies. Theconsumer gets a taco. The company gets brand loyalty, free media advertising,possible exposure to new customers and low promotional risk. That is abeautiful return on investment.