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Buy One, Get One Free
"Buy one, get one free" or "two for the price of one" is a common form of sales promotion. Marketing strategy The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price. History The concept of "buy one, get one free" was devised in the 18th century by retail entrepreneur Josiah Wedgwood. This technique is commonly known in the marketing industry by the acronym BOGOF, or simply BOGO. Criticism Two-for-one promotions in the food industry have been criticized as contributing to food waste The causes of food going uneaten are numerous and occur throughout the food system, during food production, production, food processing, processing, Food distribution, distribution, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buy One, Get One Free ^ - Geograph
Buy may refer to a trade, i.e., an exchange of goods and services via bartering or a monetary purchase. The term may also refer to: Places * Buy (inhabited locality), any of several inhabited localities in Russia * Burlington-Alamance Regional Airport, FAA airport code "BUY" * Buy (river), a river in Perm Krai and the republics of Bashkortostan and Udmurtia in Russia * Bunbury Airport, IATA airport code "BUY" Other uses * ''Buy'' (album), 1979 album by James Chance and the Contortions *Buy, slang for believe, find credible, be convinced * Buy.com, a shopping website founded in 1997; renamed Rakuten.com in 2010 See also * Acquisition (other) * Bui (other) * Bouy (other) * Buoy (other) * Margherita Buy, an Italian actress * Procurement * Purchase (other) * Purchasing Purchasing is the procurement process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Promotion
Sales promotion is one of the elements of the promotional mix. The primary elements in the promotional mix are advertising, personal selling, direct marketing and publicity/public relations. Sales promotion uses both media and non-media marketing communications for a predetermined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include contests, coupons, freebies, loss leaders, point of purchase displays, premiums, prizes, product samples, and rebates. Sales promotions can be directed at either the customer, sales staff, or distribution channel members (such as retailers). Sales promotions targeted at the consumer are called consumer sales promotions. Sales promotions targeted at retailers and wholesale are called trade sales promotions. Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational custom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alex Tabarrok
Alexander Taghi Tabarrok (born November 11, 1966) is a Canadian- American economist. Tabarrok is a professor at Virginia's George Mason University and Bartley J. Madden Chair in Economics at the school's Mercatus Center. With Tyler Cowen, he co-authors the economics blog ''Marginal Revolution''. Tabarrok and Cowen have also ventured into online education with ''Marginal Revolution University''. From 1999 until 2013 he was director of research for the Independent Institute, an Oakland, California based think tank. He completed his undergraduate studies at the University of Victoria in Canada and received his Ph.D. from George Mason University in 1994. He has done work on dominant assurance contracts, law and economics, and health economics. In 2012, journalist David Brooks called Tabarrok one of the most influential bloggers on the political right, writing that he is among those who "start from broadly libertarian premises but do not apply them in a doctrinaire way." Ref ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Josiah Wedgwood
Josiah Wedgwood (12 July 1730 – 3 January 1795) was an English potter, entrepreneur and abolitionist. Founding the Wedgwood company in 1759, he developed improved pottery bodies by systematic experimentation, and was the leader in the industrialisation of the manufacture of European pottery. The renewed classical enthusiasms of the late 1760s and early 1770s were of major importance to his sales promotion. His expensive goods were in much demand from the upper classes, while he used emulation effects to market cheaper sets to the rest of society. Every new invention that Wedgwood produced – green glaze, creamware, black basalt, and jasperware – was quickly copied. Having once achieved efficiency in production, he obtained efficiencies in sales and distribution. His showrooms in London gave the public the chance to see his complete range of tableware. Wedgwood's company never made porcelain during his lifetime, but specialised in fine earthenwares and stonewares that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B Marketing, B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a Media agency, media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to adverti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Food Waste
The causes of food going uneaten are numerous and occur throughout the food system, during food production, production, food processing, processing, Food distribution, distribution, Grocery store, retail and food service sales, and Social class differences in food consumption, consumption. Overall, about one-third of the world's food is thrown away. A similar amount is lost on top of that by feeding human-edible food to farm animals (the net effect wastes an estimated 1144 kcal/person/day). A 2021 meta-analysis, that did not include food lost during production, by the United Nations Environment Programme found that food waste was a challenge in all countries at all levels of economic development. The analysis estimated that global food waste was 931 million tonnes of food waste (about 121 kg per capita) across three sectors: 61 percent from Household waste, households, 26 percent from Foodservice, food service and 13 percent from Food retailer, retail. Food loss and waste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Use By Date
An expiration date or expiry date is a previously determined date after which something should no longer be used, either by operation of law or by exceeding the anticipated shelf life for perishable goods. Expiration dates are applied to some food products and other products like infant car seats where the age of the product may affect its safe use. The legal definition and usage of terms varies between countries and products. Different terms may be used for products that tend to spoil and those that tend to be shelf-stable. ''Use by'' is often applied to products such as milk and meat that are more likely to spoil and can become dangerous to those eating them. Such products should not be consumed past the date shown. ''Best before'' is often applied to products that may deteriorate slightly in quality, but are unlikely to become dangerous as a result, such as dried foods. Such products can be eaten after their ''Best before'' date at the discretion of the consumer. Storage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
