I don't agree with the author's grocery store comments. Furthermore, being able to use 2 coupons on a BOGO deal can be very rewarding. Housing is a completely different ballgame. I can't imagine anyone ignorant enough to fall for that kind of BOGO.
BOGO is usually a better deal than any other discount at the grocery store. Also, sometimes there are BOGO manufacturer's coupons. For reals! This does happen, but a lot of the times as I have mentioned in the article they double the original price so you're not getting a discount.
Yes, with manufacturer's coupons it's always a good deal because you are taking the discount on the normal price. Also, if the store does legitimately discount the product even if you buy one thing, then yes, it is a good deal. However, as we all have mentioned already, it pays to know what a "good" and "cheap" price is for each item. You're right - the key really is in being aware of what a "good" price for each item is.
The stores and now apparently housing developers are counting on consumers being uninformed and carried away by the thrill of getting an item on SALE. There is a Chinese saying that says "The sheep's hair grows on the sheep's back. They're trying to fake us into believing that the value is higher than it really is. Chinese culture already instills these little wisebread-ish tidbits of information into their culture.
I hope one day Americans will have more sayings that promote frugality. B1G1 may not be the best, but it's not worth ignoring outright. Hey Peter, I know that proverb! To explain it further, it compares the money consumers spend to the wool, and the consumers are the sheep.
To maximize the opportunity, the best method is to find a target audience. With a target audience, you can decide what items to exhibit in your BOGO promotion efficiently.
Creating a target audience can help you win the hearts of shoppers and make a promotion efficient. Like any other promotion, creating urgency is essential for a successful Buy One, Get One promotion.
By setting up a deadline for your BOGO sales, you can incentivize shoppers to act sooner due to the fear of missing out. Through an online platform, retailers can use countdown clocks to show the remaining time of the sale.
The clock shows the time running out and can create urgency for the shopper to purchase the item sooner rather than later. There are many different platforms available for you to advertise your BOGO promotion on. Advertising and marketing. Want to learn more? Need a translator? Translator tool. Retrieved 23 October Retrieved 11 October Categories : Sales promotion. Hidden categories: Articles with limited geographic scope from May United Kingdom-centric.
By using The Balance Small Business, you accept our. Full Bio Follow Linkedin. Follow Twitter. The introduction of that one word — free — entirely reversed the outcome of the study. As a result, we fall victim to the zero price effect , a phenomenon whereby our demand for an item dramatically increases when it is free. While the origins of this infamous promotion are unclear, The Hustle traced it back to newspaper clippings from as far back as Largely marketed toward women, these early ads offered 2-for-1 wool dresses.