With the tough competition between brands in today's retail environment, more and more brand owners are turning to promotional pricing strategies to boost sales and increase reach. The multiple products promotion is one of the most recognised strategies on the retail market, and entails a brand offering an additional product, free of charge, with the purchase of a specified item. This promotional pricing technique offers the same benefits as a volume promotion strategy (instead of paying R40 for one bottle of shampoo, buy two bottles for R70) and it has been proven that consumers respond well to this type of promotion. The challenge for brands lies in presenting these promotional offers attractively and conveniently, in an eye-catching manner.
Pyrotec PackMedia, a leading South African provider of on-pack solutions, has just launched ElastiBand as part of its innovative ElastiTag range- a unique selection of hang tags that can be used for labelling, branding and marketing a wide variety of products. ElastiBand is a printed band and elastomer combined as one piece. "It is ideal for large diameter products that are normally difficult to label, or two-for-the-price-of-one promotional offers that require two products to be bundled together," says Timothy Beattie, General Manager of Pyrotec PackMedia. "The beauty of this device is that it can be custom manufactured to suit the brand's needs and objectives, and the unique elastomer loop is designed to fit snugly around products- presenting them together in an attractive manner."
ElastiBand can assist brand owners in introducing their products to new clients as it offers them increased value for their money, and also often leads to brand-switching. "It is unlikely that a customer would remain loyal to their preferred brand of dishwashing liquid when another manufacturer is offering double the amount at the same price," explains Beattie. ElastiBand also acts as an effective tool which can be used to communicate the brand's key messages, convey value-added incentives such as discounts and special tips and provide essential information about the product such as nutritional composition or user instructions.
"The multiple products promotion strategy is very popular with brand owners, and can be a very successful strategy when the primary aim is attracting new customers. With ElastiBand, brands are able to effectively communicate information as well as attractively present their promotional offers, negating the need for excessive packaging," concludes Beattie.