Zak, professor of Neuroeconomics at Claremont Graduate University, researchers set out to learn how coupons impact people’s happiness, health and stress. Here’s what the research shows about how consumers react to coupons and how strategic brand discounts and freebies can contribute to a company’s success. 5 Data-Backed Reasons To Use Special Offers Companies that understand the psychology behind special offers create a favorable brand image, deliver happiness to new and returning customers, and boost long-term profitability and sales. Now nearly every brand and retailer uses discounts or other promotions to grow their businesses too. Today, Coke is the world’s best-selling carbonated beverage, thanks to more than a century of clever marketing strategies, including coupons, deals, and markdowns. By 1895, Coca-Cola was being served in every state.”Ĭoke had solidified its brand as a household name.

Coke, which was introduced a year earlier, benefitted from this marketing strategy, as it encouraged both consumer and vendor adoption.Īccording to Coupon Sherpa, “Between 18, an estimated one-in-nine Americans had received a free Coca-Cola, for a total of 8,500,000 free drinks. With the Coca-Cola voucher, recipients could redeem one free glass of Coke at any dispensary. Little did the company realize how important the concept would be in shaping the future of commerce. In 1887, Coca-Cola distributed the first-ever coupon.

What Science Says About Discounts, Promotions and Free Offers Danny Wong 17 February 2020

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