Drift in Global Market:-

Marketing budgets often take a hit during economic downturns. And whether your department experiences a cutback, or you're simply on the hunt for inexpensive ways to increase your reach, Jenni Hilton offers ideas for maximizing your PR dollar in a post at Eternal Thoughts from a Sunshine Mind. Here are some highlights:

Get listed in local directories. Search engines like Google and Yahoo provide online users with addresses, phone numbers and maps. "They are free," she says, "and you can even link to your web site." Also, establish a presence with sites like Angie's List and CitySearch. Most of these listings enable ratings and reviews, so encourage customers to share their opinions of your product or service.

Schmooze your local media. Everyone loves editorial coverage from national publications, but don't neglect relationships with smaller outlets. "Offer advice, take a reporter to lunch," says Hilton. "Local media is easier to reach and if you are doing neat things with the community, be sure they know about it."

Don't forget about the people who work for you. "PR isn't all about outside relations," she says. "[M]ake sure your employees are motivated and happy." Pizza parties and "Employee of the Month" awards might seem a little corny, but they're low-cost ways to let everyone know you appreciate their contribution.

The Po!nt: While these ideas can help out when times are tough, they're worth implementing even in a strong economy.

Sales promotions that offer either price discounts or free goods (premiums) are often used to entice customers to buy products. But which is better?

Every family has one or two bargain shoppers—always looking for discounted products, and priding themselves on never paying full price. So, logically, marketers would assume that discounting prices in periodic sales gives their customers what they want. Right? Well, as often happens here, we must disagree.

Research is actually showing that, while sale prices do draw customers in, from the standpoint of long-term brand equity, companies are better off offering a premium rather than a price discount -- at least once in a while, anyway.

The reason? Apparently, consumers "incorporate" a price discount into the product's regular price, making it look less expensive overall. (Once they see it marked down, they remember that lower price, and keep watching for it to return.) Because customers often make price-quality inferences like this, they may actually start to discount the quality of the product over time in their minds as well.

Free premiums, on the other hand, apparently enhance the overall value of the product. (For instance, that bottle of free conditioner packaged with the shampoo adds value to the regular price.)

The Po!nt: Give 'em something to remember. Sales are fun, but occasional premiums are better for maintaining brand equity over time, because consumers see them as an added value.