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Kiril Hadjidinev: Promotions Based on Price Reduction Devaluate Brands
October 30
Promotions must meet consumers' needs and offer them added value. They should establish a feeling of consumer's satisfaction and not to be targeting onsales at a lower price. This is what Bella’s Marketing Director said during the discussion about promotions at RID 2015, organized by Regal magazine and GFK.
According to him, cross categorical and combo promotions are appropriate activities for a specific product to reach a wider range of consumers. Hadjidinev emphasized that promotions based on price reduction can lead to devaluation of the brands, some of which have been built for years, as they provide the consumer with the impression that the value of the specific product is the promotional one. He said that a similar trend is observed in Western Europe, where the increased frequency of price promotions has been leading to reduction in return on volumes.
Photos by Anelia Nikolova, Regal Magazine