Between the Noise🎯 #24: The Worst Sales Promotion In History, The Godfather Of Digital Maps & More
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Article: The worst sales promotion in history Interesting article on Hoover, a UK branch of vacuum manufacturer whose one promotion strategy decided their downfall with multi-million losses for the company. They offered a lucrative promotion “If a customer bought any product worth £100, he’d get two free round-trip flights to the United States”. They thought a) Only a small fraction of purchasers would actually jump through the hoops necessary to redeem the flights. b) Customers would spend far more than the £100 minimum, offsetting the cost. Both of them proved wrong & company had to face complete destruction over next couple of years.
Between the Noise🎯 #24: The Worst Sales Promotion In History, The Godfather Of Digital Maps & More
Between the Noise🎯 #24: The Worst Sales…
Between the Noise🎯 #24: The Worst Sales Promotion In History, The Godfather Of Digital Maps & More
Article: The worst sales promotion in history Interesting article on Hoover, a UK branch of vacuum manufacturer whose one promotion strategy decided their downfall with multi-million losses for the company. They offered a lucrative promotion “If a customer bought any product worth £100, he’d get two free round-trip flights to the United States”. They thought a) Only a small fraction of purchasers would actually jump through the hoops necessary to redeem the flights. b) Customers would spend far more than the £100 minimum, offsetting the cost. Both of them proved wrong & company had to face complete destruction over next couple of years.