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21 April 2006
Leveraging on your brand with complimentary corporate gifts
I walked into a fashion apparel shop a couple of days ago, attracted to this nice PVC shopping bag that they had on display. On scrutiny, I realized that I could buy the bag for $9.9 instead of it’s normal price at $49.9, should I incur a minimum purchase of $50. Further up, I saw a customer purchasing the bag at the cashier. I smiled, thinking to myself what a fabulous example of brand leveraging with corporate gifts.
Being in the corporate gift business, I know the bag must cost less than $8 to the shop. But with the brand printed on it, they are marking it at $49.9. Now to drive sales, they lowered the price to $9.9, a substantial discount that will induce much impulse purchase. In the end, the shop profited on the additional apparel sales as well as the slight margin earned from the bags. The customer went home happy with her new clothes, her new bag and knowledge that she picked up a “steal”. Win-win situation.
So to all owners of a good brand name, put that name on corporate gifts and create some good win-win situations. Diners will be happy to buy some dinnerware from a luxurious restaurant. Travellers will be happy to pick up some bedroom slippers from a luxurious hotel. If you make sure your corporate gift item is stylish and correctly priced for your audience, you will make some money from it with good marketing vibes earned. Jazztures can help you with that corporate gift.
Ian Choo, 21 April 2006
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April 2006
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