Promofutures: new routes to profit and how to balance the discounting scales
What?
Promofutures was a future focused study to identify how promotions (should) work from a consumer perspective and address key questions for brand owners. It was clear that the recession professionalised budgeting, maximising, bargain hunting in the consumer mindset. We set out to discover how businesses should respond to margin pressures and find market opportunity during this time? We assessed the future for promotional marketing in the post-recession landscape, drawing on a range of research techniques.
When?
Our Promofutures study was completed in the first quarter of 2011.
The key questions the study sought to answer:
- How engrained is the discount culture? Are there key profiles of consumer in relation to promotion-oriented shopping? Does this vary by sector?
- How savvy are consumers about price strategies?
- Attitudes and behaviour regarding promotions. What types of promotions resonate with various types of consumers (in your sector)?
- Which features will continue to command full price for your products?
- What is the role of channels and technology in promotions? What makes promotions have talkability?
- How do promotions affect loyalty and brand equity?
Consortium member case study
Other Promofutures consortium members included:
- Associated Newspapers
- ITV
- Arla Foods
- Dixons
- SMP
- CPP
- Filmology
- Headcount
