Marketing Options For Restaurants And Luxury Retailers For...

GiltCity Review GiltCity targets upscale restaurants and luxury retailers for daily deals and other incentives, which distinguishes the company from the crowded field of coupon-selling companies. Although this marketing option is only available in limited cities in the United States, fine dining restaurants can reach targeted customers who earn more than $100,000 annually. GiltCity incentives aren t always financial but often include perks like backstage access to concerts and entertainment venues, conversations with the head chef, celebrity meet-and-greets and other value-based inducements. Of course, worrying about devaluing your upscale restaurant by offering discounts might not matter as much as you always feared. Upscale restaurants can often set their own rules, based on their customers, cuisine and reputations. We ve regularly warned restaurateurs in our posts about the dangers of devaluing their brands by offering too many incentives and running coupons that reduce regular prices, except for BOGO offers. A recent report by the University of Maryland s Business School confirmed the Groupon effect that devalues restaurants that offer big discounts. Clinical studies and analyses proved that Groupon-style offers can damage restaurant reputations, especially eateries that offer lower priced meals.[1] However, the study found that upscale restaurants tended to be immune from this risk, possibly because their customers don t expect to get lower prices on every visit.Show MoreRelatedMarketing and Product Essay12745 Words   |  51 PagesDirected Study in Marketing Chapter 1 Marketing’s Value to Consumers, Firms, and Society Questions and Problems 1. List your activities for the first two hours after you woke up this morning. Briefly indicate how marketing affected your activities. a. 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