Tuesday, October 7, 2008

Getting Creative With A Nervous Ecomony

From Market Watch:

KNG announces that when the stock market drops like it did last week, small businesses feel the impact immediately. Sales start to drop after the first internet reports of large losses on the stock market. And sales continue to drop off faster and faster as the stock market losses and the number of articles about the losses increase. "By the end of the day on Monday orders had slowed to a trickle," said Matt McDonagh (Marketing Director for KNG).

The company decided to take advantage of the situation by starting a stock drop discount program. For every 100 point drop in the DOW for the week KNG will give a 1% discount for customers using coupon code ST8918. "We are not able to make up for all the lost sales due to the decrease in consumer confidence, but at least we can make up part of the sales," says McDonagh.

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