Voice of the Restaurant Industry
Discounting your product and service to the market is, as many restaurants have found, not always the best way to drive traffic - particularly if all they come in for is the discount offer, nothing else on the ticket and then never return.
Teddi Davis, VP marketing at ProfitStreams cites an article in the Harvard Business Review in her recent post at the 360DegreeBlog.com. Turns out that Teddi really knows her stuff too - she's a 20 year marketing veteran and owns an Irish pub in North Denver.
The gist of the post is that yes, a discounting strategy can be used to help drive awareness and trial, but to rely on it for consistent business and revenue is a path filled with real challenges and possible failure. Discounting can be just one of the tools in the tool bag, but not the only one. Use it sparingly...