Hey, kids! For today’s #marketing lesson, I’m going to teach you a new dirty word. Feel free to exclaim it at the dinner table, sing it in the shower or shout it from the rooftops so all your neighbors can hear. But seriously, don’t use it online. Especially if you happen to be a member of the e-commerce team of your marketing department. Because this particular double-four-letter word is not the word any brand marketer ever wants to hear: “DISCOUNT”.
There was a time — not so long ago — when Enron executives were collectively known by their clients as “the smartest guys in the room.” There was a more-recent time when Volkswagen held an unimpeachable track record for emissions safety — until the so-called Dieselgate scandal came to light, sending its stock prices plummeting by 40 percent. There was even a time, at least before the release of Beyoncé’s “Lemonade,” when Jay-Z thought his street cred and talents as a rapper would keep his personal brand untouchable.
For millions of Gen Zers studying at college, a well-priced offer means the difference between affording - or not affording - a new computer, nice clothing, memorable nights out on the town, or a plane ticket home. Students love to save on what they buy - and marketers know it. A quick journey to any corner of the internet will reveal a near-endless supply of coupons, discounts and one-time sales events geared specifically towards students.