Imagine a real estate business model where the customer names their price. Call it a“Pay-what-you-want-house” and you might have an interesting idea. That is the idea behind the new Ibis Singapore on Bencoolen. Check out this promotion merely to see the cool website.
Why Do People Love Promotions?
1. Added Value: is it such a bad idea to create promotions in a such dreary economic times? Even if you can’t give away the store, isn’t there an item or service you can give away? Now more than ever, bartering one of your services in some fashion would be a welcome relief to some people who need help. People want and need added value in anything they buy, more than ever today, whether it is a service or a product.
2. Consumers Remember: more economic pressure, job loss, and belt tightening is in store for 2009. Now more than ever, if you help someone by providing a promotional “prize” or service that gesture is often remembered and past forward via word of mouth. When people give under the toughest circumstances (economy), that is truly the measure of our willingness to help.