Saturday, September 14, 2024

Honesty the Best Policy?

 When it comes to marketing strategy honesty doesn't work. In 2012 J.C. Penney admitted they used fake prices to attract customers. If they wanted to sell a shirt for $10 they marked it as $20 then marked it down to 50% off on sale. They changed to "everyday low prices" and customers complained until they brought back the phony sale prices. Another example of customers rebelling against change came in April 1985 when Coke launched New Coke and ended up pulling it from the shelves by July of the same year when consumers demanded they return to Coke Classic. If it ain't broke, don't fix it. 




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