Free or low-cost healthcare seems like a great idea - but ‘the lower the price the better’ mantra doesn't always hold true. In fact, it seems that free and low-cost treatments are often perceived as being low in value and quality.
The power that free food holds over us is particularly strong. In fact, free samples can increase sales by up to 2,000%. It is a method that Costco in the US has very successfully employed. After sampling beer sales grew by 72%, and frozen pizza by 600%!
Everyone loves saving that little bit extra when they shop. Marketers have a number of techniques at their disposal; free shipping, 10% off or BOGOF for example. Research shows that the discounts you are drawn to and prefer actually change with age.
From Assam to Darjeeling, India has long been associated with tea drinking. But while the tea category has stopped growing, green tea is bucking the trend. Fuelled by health-conscious Indians, demand for green tea is growing at 60% year-on-year.
Prof Baba Shiv explains how, while precise information still plays a role in certain contexts, vague information yields better outcomes when motivating people. This insight presents clear opportunities for pharma and healthcare brands.