Lucky dips dont exactly send sales soaring

November 13th, 2008 - 4:49 pm ICT by ANI  

Washington, Nov 13 (ANI): If you personally feel lucky, then the chances are that you will participate in a lucky draw, thats what a new study suggests.

Festival season brings with it various promotional strategies, one of which is lucky draw, but the study has claimed that sweepstakes only appealed to customers who personally felt lucky.

For the study, Gerard Prendergast and Edmund Thompson, conducted test probing consumers beliefs in luck in order to find out who are the best prospects for lucky draw.

Generally, the researchers found that a belief in luck was not sufficient to entice consumers to a lucky draw over other sales strategies.

They claimed that lucky draws did appeal to consumers who personally felt lucky.

The result supports the phenomenon of illusion of control, observed by psychologists in people who habitually engage in superstitious behaviour (such as wearing lucky things, carrying a rabbits foot, or following astrological dictates).

As a matter of fact, the perceived utility of the prize in the lucky draw may also be a factor in consumers participation.

Marketers can utilise the findings of the study depending upon the extent to which they may want their targeted consumers to get lucky with their products.

One reason can the fact that promotional strategies that foster a sense of luck (such as by offering a disproportionately high number of prizes) will foster greater participation, especially among consumers who themselves, for whatever reason, feel lucky.

Laos, lucky draws may be a particularly potent marketing tool in some international markets, such as China, where certain beliefs related to luck are more of a cultural staple.

The study is published in the latest issue of Psychology n Marketing. (ANI)

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Entertainment |