Matt Butcher, director, PIMS-SCA
I regularly sit down with marketers reviewing and advising on their promotions and more often than not, clients are surprised by our expectations of the likely results. So it’s no surprise to me when the Institute of Promotional Marketing’s Marketing Gap Study confirms what my company already knows; that what marketers think consumers do fails to measure up to reality. As one example, marketers tend to vastly overestimate the degree to which consumers abuse the use of money-off coupons.
Getting redemption estimates wrong can be costly, particularly if promotions are uninsured. Our business relies upon an intimate knowledge of how consumers respond to promotions, using a database built over 25 years. Armed with this knowledge, I invite you to take a lighthearted test to see how you shape up!
The following are based on actual promotions that took place in recent years. Check your answers at the bottom.