7 Keys to Marketing Genius: Turn it Off
The following is an excerpt from The 7 Keys to Marketing Genius by Michael Daehn
Sales promotions should be used for only a limited time and should be turned off quickly. Always have an expiration date - the shorter, the better. Long-term expirations diminish urgency for consumers. Often they will set the offer aside and forget about it until it is too late.
Another reason to limit their duration is that extended or continual sales promotion activities lead to a devaluation of the product in the eyes of clients. If there is always a coupon available for half off, they will not ever want to pay full price. The goal is to get customers to use the product and then pay the regular market price. Unlimited sales promotion for an item is not really sales promotion; it is a lowering of the price, which is not a good idea. As we discussed earlier, using price as a marketing tool is a trap because it could lead to a price war.