World - Economics

Science,Social Sciences,Economics

Security Issues Taking credit cards on-line, either via a shopping cart system, e-mail, or by phone, exposes you to a higher level of credit card fraud than accepting credit cards in the store. In fact the protection you receive against loss from fraudulent credit card use in the store probably does not apply to transactions when the card is not present. It is easy for someone to steal the numbers on a card and give them out over the phone, or for a student away at college to use a parents card without permission. One way to protect yourself from this happening is to have a policy of only shipping to the billing address for the card. Because you will be receiving credit card information on your computer, you need to protect your customers by limiting access to that information. Using passwords and information encryption are important when dealing with credit card numbers and other sensitive, personal data. Using passwords and information encryption are important when dealing with credit card numbers and other sensitive, personal data. Variations on price promotion include buy one, get one free, which is equivalent to a 50 percent discount off each item. When I was a child in Pennington, New Jersey, I loved the corner drugstores Penny Sale. If you bought one notebook for full price, you could buy a second one for only a penny (which even then didnt usually buy much). Im not sure that I would have been as intrigued by a half off selected notebooks sale, 262 Creative Promotion and Publicity although that is really what was being offered; a second notebook for only a penny seemed to be a real bargain. Gift with purchase (GWP) is another way to discount a specific item by selling it at full price but offering a second item with it for free. Toiletries are often offered this way, with the value of the travel bag or other GWP sometimes exceeding that of the perfume. Toiletries are often offered this way, with the value of the travel bag or other GWP sometimes exceeding that of the perfume. , making a notation in the corner of the total amount of the customers purchase. This information will allow you to measure the effectiveness of the promotion. Valued Customer Cards The cost of maintaining a current customer is considerably less than that required to obtain a new one, and many stores make their regular customers feel appreciated by offering them special benefits. Some bookstores, including national chains such as Barnes & Noble, sell an annual discount card to their regular customers for a nominal fee. The card provides a discount on all books purchased during the year, encouraging shoppers to make their investment in the card pay off by buying all their books from the same source. The latest development in valued customer cards is the smart card, or fidelity card, being used by some grocery chains. The latest development in valued customer cards is the smart card, or fidelity card, being used by some grocery chains. We send out postcards offering our best customers a small birthday gift, and use the other data to build our mailing list and to issue customized e-mails about new products. Discount Cards It is growing increasingly common to offer a storewide discount to senior citizens one day a week. In order to promote this benefit, we provide se268 Creative Promotion and Publicity Figure 9.2 Sample senior citizen discount card. nior citizens who shop in our store with a special card that mentions our senior citizen day, the discount amount, and a few low-markup items that are not included in the discount. By asking customers to show the card in order to get their discount, we eliminate having our employees ask customers how old they are. We also have an opportunity to add their names to our mailing list. We also have an opportunity to add their names to our mailing list. Sales reps often enjoy the opportunity to get feedback from the buying public by demonstrating items in their line. There are as many different types of demonstrations as there are products. Here are examples of a few: Cooking Crafts, sewing Cleaning techniques Food sampling Skin care and makeup Home decorating tips Care or polishing of metals Use of handCheck with retailers in nearby cities to see if any would like to have the same person in their store, so that you can share the airfare costs. You might also be able to contact a celebrity scheduled to perform a concert or play in your area, and arrange for the person to make an in-store appearance to promote a product or charity in which he or she has an interest. Special Events to Attract Customers to Your Store 273 Costumed Characters Families with children love the photo opportunity that a costumed character offers. The classic pictures with Santa promotion is still a must for almost every large mall in America, as is having the Easter bunny in residence in the spring. A specialty shop can distinguish itself by offering something a little different, such as an appearance by a childrens storybook character or a life-sized version of a stuffed animal. Suppliers sometimes rent or loan costumes based on their licensed characters, such as Cherished Teddies by Enesco or Hello Kitty by Sanrio. Suppliers sometimes rent or loan costumes based on their licensed characters, such as Cherished Teddies by Enesco or Hello Kitty by Sanrio. Economics.