Kasih Diskon Boleh Asal Jangan Lewatkan Ini - Market Think 103

Summary

This video script delves into the strategic use of discounts in marketing, highlighting their impact on consumer behavior and sales. It discusses how discounts can create a sense of urgency, enhance perceived value, and reduce perceived risk, thereby attracting customers. The script also cautions against the pitfalls of discounting, such as potential damage to brand image and the risk of attracting the wrong customer segment. It emphasizes the importance of authenticity in discount offers and the need for brands to have a clear consumer segment before implementing discounts. The discussion serves as a guide for businesses on how to leverage discounts effectively without compromising long-term brand strength.

Takeaways

• 😀 Discounts are a common marketing strategy used by brands worldwide to boost sales and attract customers.
• 💡 Implementing discounts can increase perceived value for money, creating a sense of better deal for consumers.
• ⏰ Discounts can create a sense of urgency, prompting consumers to make purchases sooner rather than later.
• 📉 The use of 'sale' or 'discounted' prices can influence consumer behavior, even if the original price is unknown.
• ⚠️ Be cautious with 'fake discounts' or inflating prices before discounting, as it can damage brand trust and reputation.
• 🛒 Discounts can lead to increased sales, but they may also result in customers only purchasing when discounts are applied.
• 🔍 It's crucial for brands to define their target consumer segment before applying discounts to attract the right audience.
• 🚫 Applying discounts without a strong brand identity can lead to attracting the wrong customer segment and may not retain them post-discount.
• 💡 Authenticity in discounts is key; consumers are more likely to trust and return to brands that offer genuine discounts.
• 🔑 When planning a discount strategy, consider alternative incentives that can maintain customer interest after the discount period ends.

Q & A

What is the main advantage of using discounts for marketers?

Discounts create a perception of better value for money, which can lead to increased sales by encouraging consumers to purchase items they might not buy at full price.

Why do some consumers respond to 'strikethrough pricing' even if it's fake?

Even when consumers are unsure if the original price was inflated, studies show that strikethrough pricing still works by creating a sense of urgency and perceived value, leading to higher sales.

How does offering a discount create urgency for consumers?

Discounts make consumers feel that the offer might not be available later, pushing them to buy now rather than waiting, even if the urgency is a psychological effect.

What are the potential risks for a brand when offering too many discounts?

If a brand offers too many discounts, it may attract the wrong consumer segment or damage its perceived value, making it difficult to sell products at full price later.

What are 'panic promotions,' and when do businesses use them?

'Panic promotions' occur when businesses offer discounts due to fear of low sales or unsold stock, often resulting in last-minute, rushed price cuts to avoid losses.

How can discounts impact consumer behavior regarding future needs?

Discounts can make consumers buy items they don’t currently need, creating a future need mentality where they purchase items because they believe they might need them later.

What is the danger of relying solely on discounts to attract customers?

Relying on discounts can result in low retention, as consumers may only purchase when prices are reduced and have no reason to return once the discount period ends.

Why should a business be cautious when lowering prices to attract new customers?

Lowering prices can attract the wrong segment of customers, who may not value the product at its normal price, leading to difficulties when prices are restored to their original level.

What is the impact of inauthentic discounts on brand trust?

If consumers realize a discount is fake or inflated, it can damage the brand's trustworthiness, causing long-term harm to the relationship between the business and its customers.

What should businesses consider when planning a discount strategy?

Businesses should ensure they have a clear consumer segment in mind, maintain authenticity in their discounts, and consider alternative strategies to retain customers after the discount period ends.