Jordan Vazquez essay
Describe how a business( including retail and service) can derive promotional and customer loyalty/retention benefit by utilizing a raffle in their marketing efforts.
The benefits of a raffle are always exciting to the consumer. For starters, it’s free merchandise. When you get something for free you can test the product and pass it among your friends for their input. It’s always a hit when your friends are envious of something you have that they want for themselves.
Secondly, the promotional aspect of a raffle invites interest where there might not be any. For instance, a new product that has not been marketed too broadly might benefit from this free from of advertisement. Anyone interested in the raffle usually pays a nominal fee, much lower that the cost of the item. That is to say that essentially, the winner of the ticket is getting a good deal.
Thirdly, a consumer that likes a product or a companies product and/or services is highly likely to repurchase said product and get other people’s interest in buying it as well. In these modern times, social media is a good way to advertise a product by peoples likes and dislikes on the internet. Nowadays, everyone has a cell phone so information is readily available all of the time.
In conclusion, a business can derive promotional and loyalty from a customer by utilizing a raffle to alert the customer to a new item on the market via a free gift and getting repeat customers that spread the word about the business and its retail/service.
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