Learning from Dr. Pepper and Snicker
In the modern era of marketing, companies are trying their level best to innovate and come up with new methods in order to get a greater chunk of the market share and to understand their customer base much better. They need to know their preference, likes, dislikes, what they expect in the future and many other aspects. So thus to give it a go, Walmart, Dr. Pepper and Snickers have collaborated together in order to start a marketing campaign in disguise of a sweepstakes contest.
How to apply for the contest:
In Walmart stores, various banners and posters were set up which stated that if a shopper bought two Snickers bars and two Dr. Pepper drink and send the picture of their shopping receipt to email@example.com, they would be qualified to win one 250 $100 dollar Walmart gift or gas cards. This is actually a good way to monitor the purchasing pattern of their target customers, and thus the two well known companies will get to know what other products their target customers buying. For example, if Dr. Pepper notices that the majority of the customers who are buying Dr. Pepper are also buying noodles, then in the future Dr. Pepper can come up with more campaigns in which they can collaborate with specific noodles and encourage the rapid purchase and consumption of their brand.
Scope of Mobile technology:
We also know that mobile technology is booming and trending worldwide and has written quite a number of success stories of many businesses, and in this initiation taken by Dr. Pepper and Snickers they can also figure out the number of mobile phone users (because customers had to take a photo of their receipt and mail it to the given address and that had to be done while they were in store) and those who are regular users of their mobile phones while they are shopping. Based on the results and conclusion of this campaign in Walmart (if it was a success) companies can develop mobile applications about the brand in which marketers can send various promotions regarding the brand, or if any new products are launched from the mother brand.
This is not the first time two different companies have joined together for mutual purpose and benefit. Previously Coca Cola, Home Depot and Matika have collaborated together to achieve mutual goals and was successful at it. Clever and strong companies will never stop, they will always try to innovate and come up with new tricks and methods by which they can attain a bigger portion of the market share in this current generation of marketing environment.
One more thing they need to keep in mind is the fact that, they need to retain customers and never let go of their most profitable customers, because it is believed that "20 percent of the profitable customers are responsible more making 80% of the sales". So marketers must take appropriate measures and techniques in order to hold on to their most profitable customers who are the main driving force behind the success of a company.