Discount Strategies for Economist Magazine

This assignment requires an analysis of discount strategies used by The Economist magazine. It asks you to evaluate how different discount types (e.g., volume discounts, percentage-based discounts) influence customer purchasing behavior and ultimately drive sales. You'll need to consider factors like the effectiveness of these strategies, potential negative impacts, and suggest appropriate discount offers for attracting and retaining customers.

DISSERTATION
(To evaluate the customer response to discount offer
on magazine sales: A case study of the economist)

ABSTRACT
Assessing response of the customers towards the discount offers on magazines is the major aim
of current investigation. For the current investigation study has been chosen a well-known and
leading magazine of economist group. Economist group is known as leading source analysis of
different international business and latest and current trends and affairs of the markets. It
communicates large amount of information to whole society through newspapers and magazines.
The main aim of the present study is to evaluate the customer response to discount offer on
magazine sales where economist group has been considered. For conducting in-depth
investigation of customers behavior towards the discount offer in economist researcher has used
the positivism research philosophy, inductive approach, primary data collection from customers
through questionnaire, secondary through books, journals and online articles. Data analysis has
been done with the help of qualitative and quantitative methods. Research study has also
disclosed that when economist magazine uses the discount offers on regular basis or for a
specific purpose or occasion. After completing data analysis author has found that economist
magazine provides different discount offers at different time. Thematic analysis has reflected that
economist magazine uses the number of discount offers for attracting customer. Along with this,
research study has also found that there are number of factors which can influence the purchaser
decision and behavior of customers of economist magazine. According to the data analysis these
factors are discount offers, quality of products, marketing and promotion and price of magazine,
etc. Hence from this it can be concluded that economist group is mainly focused with the latest
and current trends and affairs of the markets and publish it in through newspapers and
magazines. It has been identified that this company does not make any discount offer on their
magazine but sometimes it provides different discount offers to its customers. On the basis of
conclusion there are some recommendations to business such as considering free shipping, free
gifts, percentage based discounts on magazines etc.

TABLE OF CONTENTS
Abstract............................................................................................................................................2
Chapter 1: Introduction....................................................................................................................1
1.1 Title...................................................................................................................................1
1.2 Background............................................................................................................................1
1.3 Project rational.......................................................................................................................1
1.4 Aim and objectives................................................................................................................2
1.5 Research questions.................................................................................................................3
1.6 Focus and purpose.................................................................................................................3
1.7 Dissertation structure.............................................................................................................3
1.8 Framework and analysis........................................................................................................4
1.9 Significance of the research...................................................................................................6
Chapter 2: Literature review............................................................................................................7
2.1 Introduction............................................................................................................................7
2.2 Discount offers on economist magazine................................................................................7
2.3 Role of discount offers in influencing customer’s behavior..................................................9
2.4 Impact of discount offers on sales of the organization..........................................................9
2.5 Factor that can influence customer’s behavior....................................................................11
2.6 Research gap........................................................................................................................16
CHAPTER 3: Research Methodology...........................................................................................17
3.1 Introduction..........................................................................................................................17
3.2 Research Aim and Objectives..............................................................................................17
3.3 Research questions...............................................................................................................17

3.4 Research philosophy............................................................................................................18
3.5 Research approach...............................................................................................................18
3.6 Research design...................................................................................................................19
3.7 Strategy of the research.......................................................................................................19
3.8 Data collection methods......................................................................................................19
3.9 Sampling..............................................................................................................................20
3.10 Data analysis......................................................................................................................21
3.11 Ethical issues.....................................................................................................................22
3.12 Limitations of the study.....................................................................................................22
3.13 Validity and reliability.......................................................................................................23
Chapter 4: data analysis.................................................................................................................24
4.1 Introduction..........................................................................................................................24
4.2 Thematic analysis................................................................................................................24
4.3 Statistical analysis................................................................................................................31
4.4 Interpretation and discussion...............................................................................................34
CHAPTER 5: CONCLUSION AND RECOMMENDATION.....................................................37
5.1 Conclusion...........................................................................................................................37
5.2 Recommendations................................................................................................................41
REFERENCES..............................................................................................................................44
APPENDIX 1.................................................................................................................................47
Questionnaire for management team of Economist magazine..................................................47
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CHAPTER 1: INTRODUCTION
1.1 Title
To determine the effectiveness of discount offers in influencing customer purchase
decision: A case study of the economist.
1.2 Background
Assessing response of the customers towards the discount offers on magazines is the
major aim of current investigation. Behaviour of customers is generally affected by number of
discount offers of the organization. Here customer behaviour means purchase decision, attraction
of customers, repeat purchase and buyer’s behaviour at the time of buying goods and services of
an organization. For the current investigation study will be chosen a well-known and leading
magazine of economist group. Generally businesses introduces discount offers with the motive
of raising sales volume and financial performance of the organization. It plays very important
role in attracting customers also. Introducing additional offers is one of the major requirement
for sustaining longer time period (Kriz, Gummesson and Quazi, 2013). These additional offers
help in increasing sales of the organization and influencing customers to purchase products and
services of the company. In contrast, discount offers play important role in increasing sales
volume for the organization which leads increment I overall profitability of the firm.
Economist group is known as leading source analysis of different international business
and latest and current trends and affairs of the markets (Andrews, Luo, Fang and Aspara, 2014).
It communicates large amount of information to whole society through newspapers and
magazines. Data and information of this magazine is reliable and trustful for all readers. Selected
organization is famous at international level and main headquarter of this organization is in the
city of Westminster, London. Major functions of this organization is providing services of
magazine, market intelligence and conferences, etc. Generally economist group does not provide
large number of offers on their magazine but sometimes it provides different discount offers to
its customers (Brown-Johnson and et.al, 2014). Strong competition in the market is one of the
major reason behind these offers.
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1.3 Project rational
Project rational provides appropriate justification about the current investigation. It will
also communicate major reason because of them researcher has decided to accomplish the whole
investigation.
Strong competition and negative impacts on sales performance of an organization is one
of the major problem for each and every organization (Li, Zhao and Chen, 2012) . Due to this
reason economist is also facing reduction in number of customers and market share which affects
the overall performance of the company in whole industry. So, it is considered as major research
issue. Which will be considered by researcher at the time of conducting investigation.
It is an issue because most of the organizations and competitors of economist group if
magazine are using different discount offers for attracting customers (Discount strategies, 2016).
And switching cost if very low for customers which reduces the total number of customers for
the organization and decline the sale of the company. So, it is one of the major research issue for
whole investigation.
It is an issue now because from last few years economist is also providing various
discount offers to its customers (Yang and et.al, 2013). Along with this, company is investing
huge amount of money on marketing and advertisement. But still organization has not analyzed
the actual impact of these offers on sales of the company. Along with this, as per the background
study these offers are affecting the brand image of the company in negative manner. So, at
present it is one of the contemporary issue for economist. Some, author has decided to conduct
study on this subject and organization (The economist, 2016).
For resolving this research problem research will shed light on effectiveness of different
discount offers in attracting customers. Along with this, it will also focus on impact of these
discount offers on sale of economist magazines. In addition, research will also focus on different
factors which influence purchase decision of customers (Role of Consumer Behaviour in
Marketing, 2016). Overall, these considerations will help in getting appropriate solution to
resolve research issue in effective manner.
1.4 Aim and objectives
Aim:
Major aim of the current research is “To determine the effectiveness of discount offers in
influencing customer purchase decision: A case study of the economist”.
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Objectives:
 To identify the effectiveness of discount offers in attracting customers
 To understand the impact of discount offers on sales of economist magazines
 To assess the factors influencing purchase behaviour of customers
 To recommend the effective ways through which economist can better influence its
customer response
1.5 Research questions
1. How effective are the discount offers in attracting customers?
2. What is the impact of discount offers on sales of economist magazines?
3. What are the factors influencing purchase behaviour of customers?
1.6 Focus and purpose
As per the aim and objectives of the current investigation author will focus on economist
which is a leading magazine. Along with this, research will also shed light on different discount
offers which are provided by organization to their customers. Along with this, it will also focus
on purchase decision making process of different customers. In addition, focus will also be given
on research issue. Major purpose of the current investigation is determining impact of discount
offers on purchase decisions and customer’s behaviour (Sarkar, Sana and Chaudhuri, 2013).
Along with this, study also wants to determine that how discount offers can influence the sales of
magazine business. Overall effectiveness of various discount offers on overall performance of
organization is one of the major purpose of the current investigation.
1.7 Dissertation structure
 Chapter 1: Introduction: It is one of the important chapter which provides brief
information about the whole investigation It will comprise aim, objectives and rational of
the whole investigation. Along with this, it will also include information about the
structure of the entire dissertation and research methods which will be used by researcher
for completing investigation on discount offers of magazines of economist group
(Mahdiloo, Noorizadeh and Farzipoor Saen, 2012).
 Chapter 2: Literature review: This segment of the dissertation will comprise historical
data about the discount offers and its impact on customer’s purchase decisions. Along
with this, it will comprise findings of the different past research studies which can help in
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getting insights to understand the research subject (Gay, Mills and Airasian, 2011).
Therefore, whole literature review will help in determining research gap for the current
investigation.
 Chapter 3: Research methodology: It is one of the important chapter which will
comprise number of research methods which play important role in conducting
investigation in an appropriate manner. These methods will help in developing research
plan for collecting and analysing facts and figures for resolving research issue (McMillan
and Schumacher, 2014). This chapter will include research philosophy, design,
techniques, data collection and analysis methods.
 Chapter 4: Data analysis: There are number of research techniques which play important
role in analysing and examining collected information about the discount offers of
selecting economist magazine (Garner and Scott, 2013). This chapter will include data
analysis process\, interpretation and findings for the current investigation which will help
in making final and meaningful conclusion for the whole study.
 Chapter 5: Conclusion and recommendation: This chapter will include conclusion for
the whole investigation which will provide information about the response of customers
to discount offer on magazine sales. It will describe about the effectiveness of the
discount offers in attracting customers and changing their purchase decision (Zeto and
et.al, 2013). This chapter will also recommend appropriate strategies to economist
magazine by which they can influence customers in better way.
1.8 Framework and analysis
It is an important part for the whole study because it helps in completing investigation in
appropriate manner. Following framework and analysis will be used by researcher for the current
investigation:
 Research philosophy: For conducting in-depth investigation of customers behaviour
towards the discount offer in economist researcher will use the positivism research
philosophy (Colina-Coca and et.al, 2014). It has been chosen by researcher because it is
based on objectives of the research as well as tries to resolve research problem in
effective manner. Along with this, using this paradigm author will understand the
research phenomenon in effective manner.
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 Research approach: It is known as plans and procedures for the research that can span
the steps form broad assumptions to detailed methods for collecting, analysing and
interpretation facts and figures for resolving research problem (Cochran, 2012). There are
two types of research approach inductive and deductive. In which current research will
use inductive approach of the research because it is based on research question rather
than hypothesis. Along with this, it also play important role in in conducting investigation
from specific to general manner by which study can develop new theory ion impact of
discount offers on customer’s response.
 Research design: Developing an appropriate plan for whole investigation author needs to
select an appropriate research designs (Dearle, 2015). Author will use descriptive
research design for accomplishing investigation for the current investigation. It will be
used by author because it is appropriate for conducting survey of managers of economist
magazine about the discount offers and its impact on sales performance. Along with this,
it also helps in understanding subjective concepts of the current investigation.
 Strategy of the research: For conducting investigation on discount offers on economist
magazine researcher will use both qualitative as well as quantitative methods (Creswell,
2013). A qualitative method has been chosen by researcher for examining subjective and
theoretical information about the research subjects. On the other hand, data of survey will
be analysed by different quantitative tools which will play important role in making final
conclusion for the whole investigation.
 Data collection methods: Analysing customer’s response towards the discount offers
study needs to collect appropriate facts and figures about the research subject. For the
current investigation researcher will collect data from both primary and secondary data
collection methods (Mahdiloo, Noorizadeh and Farzipoor Saen, 2012). Primary data
collection techniques play important role in obtaining new and fresh information about
the research subject. It will be collected thorough survey methodology and regarding this,
author will conduct survey of management team. A structured questionnaire will be
suitable source for gathering information about the manager’s response towards discount
offers on economist magazine (Sarkar, Sana and Chaudhuri, 2013). But on the other
hand, author will use secondary data collection methods for collecting historical facts and
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figures about the subject. Regarding this author will use literature review which will help
in determining research gap on specific subject.
 Sampling: For primary data collection author needs to select sample from management
team of economist magazine. Regarding this, author will use random number sampling
method which is a most popular probability sampling method and provides an equal
chance to each and every manager to select in sample of current investigation. Sample
size for the current investigation will be 20 (McMillan and Schumacher, 2014). It will be
appropriate for representing characteristics of the whole research universe.
 Data analysis: For analysing collected facts and figures author will use both quantitative
and qualitative tools and techniques. In which thematic analysis will be appropriate for
examining theoretical information about the research subject (Cochran, 2012). On the
other hand, statistical test and different other methods will be appropriate for examining
numerical data about the customer’s response and sales of economist magazine.
1.9 Significance of the research
As per the expected outcomes research will concluded that discount offers enhance the
sales of economist magazine. Along with this, it attracts high number of customer which helps in
augmenting overall financial performance of the organization (Zeto and et.al, 2013). Therefore,
the current study will get findings about the actual impact of discount offers on sales
performance of different businesses. So, it will be beneficial for organizations of different
industries because they can select appropriate strategies for offer and discount. Along with this
findings of the current investigation will be significant for all those research scholars who wants
to conduct study on similar subjects on different other organization. In addition, it will be
beneficial for all those research analyst who uses different research studies for analysing
business performance of various organization. PhD scholars can conduct their investigation by
using the research techniques which have been used selected by the current investigation (Gay,
Mills and Airasian, 2011). It will be a source of data for all researcher who wants to accomplish
a systematic investigation on any research subject.
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CHAPTER 2: LITERATURE REVIEW
2.1 Introduction
A literature review can be defined as an assessment of a body of research which helps in
resolving research problem and getting appropriate solution of research question (Yang and et.al,
2013). It is based on literature on the current subject. For the current study author will focus on
historical facts and figures about the discount offers, customer’s behaviour and economist
magazine and its marketing strategies. Literature review is conducted by using different sources
such as books, journals, literature, and website of the organization, articles and blogs. All these
sources will play important role in getting most appropriate literature. It will also help in getting
appropriate insights to understand the research subject and problem in effective manner. The
current literature section will focus on Discount offers on economist magazine, Role of discount
offers in influencing customer’s behaviour. Along with this, study will also collect secondary
information about impact of discount offers on sales of the organization and factor that can
influence customer’s behaviour (Role of Consumer Behaviour in Marketing, 2016).
2.2 Discount offers on economist magazine
Garner and Scott, 2013 has concluded that “there are number of marketing strategic
which are used by organizations for promoting their products and services” (Garner and Scott,
2013). As per these statement organizations uses various marketing strategies such as television
ad, email, mobile, digital, internet marketing, social media marketing and various promotional
tools also. Similarly, Creswell, 2013 has concluded that “Promotional tools comprise discount
offers, sales promotion, lottery, public relations and coupons, etc” (Creswell, 2013). According
to this statement discount offers are one of the important part of marketing and promotion of
different products and services of the organization. But on the other hand, Colina-Coca and et.al,
2014 has asserted that “discount offers are considered as important pricing strategy which are
used by organizations for attracting customers and increasing sales performance of particular
products” (Colina-Coca and et.al, 2014). Moreover, Dearle, 2015 has stated that “Pricing
strategy and discount offers have direct impacts of profitability which are made by
organizations” (Dearle, 2015). So, at the time of deciding pricing strategy organization needs to
focus on appropriate considerations because it helps in meeting sales objectives, company
reputation and making best profits for the market demand. It is a fact that discount pricing
strategy is significant for driving traffic and sales for short term. Zeto and et.al, 2013 has asserted
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that “long term discount strategy” (Zeto and et.al, 2013). Similarly, Yang and et.al, 2013 has said
that “sometimes discount offers create misconception about the quality of the products and
services of the organization” (Yang and et.al, 2013).
Generally discount pricing strategy is adopted by organization for increasing sales
volume of the products on the basis of the low price strategy. Cochran, 2012 has concluded that
“In discount pricing strategy organization needs to focus on producing high quantity products at
low price rate and in this case organization needs to reduce the total cost rather than declining
quality of the products and services” (Cochran, 2012).
Sarkar, Sana and Chaudhuri, 2013 has conclude that “there are different types of discount
strategy such as discount on the basis of purchase volume, loyalty, promotion and seasonal”
(Sarkar, Sana and Chaudhuri, 2013). Dearle, 2015 has asserted that “A specific type of discount
in which organization offers a free product to its customers on purchase of a fixed amount of
products” (Dearle, 2015). Generally, these discount offers are provided by companies for loyal
and long term customers of the company. In contrast there is some seasonal discount also in
which organization provide some discount of price of products to all those customers who buy
products during off peak time. It is generally used by companies for increasing sales at the time
of starting of peak season. But on the other hand, Mahdiloo, Noorizadeh and Farzipoor Saen,
2012 has concluded that “Generally promotional offers are provided by organization for drive
sales for very short time” (Mahdiloo, Noorizadeh and Farzipoor Saen, 2012). These types of
discounts are started by organization for all those customers who are waiting for sales and price
cut. Sometimes it may damage the profitability of the organization but on the other hand it can
lead increment in the total sales of the organization at the time of promotion. Overall, these are
number of discount offers and strategies which can be used by organizations for attracting
customers and increasing sales but organization applies these strategies on the basis of the
market demand and situations (Gay, Mills and Airasian, 2011).
Further, it is well known fact that when discount and other form of additional benefits are
provided by company on its products then it directly influences purchase behaviour of target
market. This leads to rise in level of customer satisfaction and allows target market to indulge
into activities of repeat purchase (Cochran, 2012). Apart from this, it has direct impact on the
sales volume where more commodities are purchased by target market and this also Assist
Company to become leader in the market. Discount is regarded as an effective form of promotion
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which enhances brand loyalty and without indulging into this type of practice it is not possible
for business to sustain in the market. Apart from this, it is well known fact that due to rise in
level of competition in the market business has to deal with large number of challenges and this
sometime prevents from accomplishing desired aims and objectives (Cheng and Huang, 2013).
Due to this basic reason discount as a form of promotional offer is considered to be highly
effective as compared with other form of promotional tools. No customer in the market can be
influenced to purchase products of the enterprise. Moreover, it also allows business to gain
competitive advantage and leads to favourable outcomes.
2.3 Role of discount offers in influencing customer’s behavior
Organization sues different discount offers for attaining different objectives such as
increasing sales, marketing and promotion, increasing customers, etc. McMillan and
Schumacher, 2014 has concluded that “discount offers plays very important role in increasing
sales of the organization” (McMillan and Schumacher, 2014). Along with this, Garner and Scott,
2013 has asserted that “Attracting customers is one of the major motives of organization behind
the adoption of discount offers” (Garner and Scott, 2013). As per this statement such to the
discount offers customers attract towards the products and services of the company and make
appropriate decisions to buy those particular products. Therefore, discount offers play very
important role in changing behaviour of customers (Zeto and et.al, 2013).
Yang and et.al, 2013 has concluded that “Each and every organization cannot provide
discount offers only by reducing price in products and services because these offers are based on
characteristics of the products and services” (Yang and et.al, 2013). For example, retail and
hospitality organizations can provide discount or price cut in product and services for attracting
customers but on the other hand organizations of magazine industry cannot cut price of products
and services for short term. Generally they include additional new paper, magazines and other
offers for attracting customers (Cochran, 2012).
2.4 Impact of discount offers on sales of the organization
Discounts are reduction in the regular price of a product. It is used by many companies
and industries to increase their sales. These days many companies use it to temporarily increase
their sales. It can also be used as a promotional tool for the company. Sales representatives play
a major role in this respect. They have the power to take decisions and provide discounts in their
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respective areas. It helps a company to grow their market and sales with the help of sales
representatives. Andrews, Luo, Fang and Aspara, 2014, argued that "The commission of the
sales agent should be tied to the profitability of the company" (Andrews, Luo, Fang and Aspara,
2014). The sales agents tries to close their deal no matter if it is profitable or not for the
company. These activities affect the reputation as well as the revenues of the company.
According to Brown-Johnson and et.al, 2014, "Discounts are strategic decisions and helps an
organization to attract new customers” (Brown-Johnson and et.al, 2014). It has been regarded as
an integral part for the success of many retailers. It is important for the firms to use it in an
intelligent manner. On the other hand, Cochran, 2012, argues that "Discounts can affect short
term sales, brand loyalty, longer term profits and total supply costs" (Cochran, 2012). The
retailers should study the response of the customers, inventory level, seasonal cycles and price of
the competitors before taking the decisions to cut down the prices. It can have negatives effects
on the business. It has been found that many customers purchase the products on the basis of the
price of the product rather than brand loyalty. Mahdiloo, Noorizadeh and Farzipoor Saen, 2012,
agreed with the analysis that, "Manufacturers are training their customers to look for better price
of the products in the market” (Mahdiloo, Noorizadeh and Farzipoor Saen, 2012). It can give rise
to price wars in the market which can be detrimental for the interest of the company. It forces the
company to focus more on its pricing strategies rather than other aspects of the business. Sarkar,
Sana and Chaudhuri, 2013, has concluded that "It increases the expectations of the customers
and they want better discounts on the products in the following year" (Sarkar, Sana and
Chaudhuri, 2013). It increases the negotiating ability of the customers which reduces the profit
margin margin of the company. It projects that the company has lack of confidence in their
standard price. Many customers value the product on the basis of its price. Yang and et.al, 2013,
believed that "When a company offers their products at a discount, they have to sell more
products in order to meet the expectations of the management" (Yang and et.al, 2013). Discounts
are likely to increase the sales of the products but it reduces the profit margin of the company.
The customers want more discounts on the products. It can affect brand image and loyalty of the
consumers towards the company. Discounts increase the sales but it undermines the marketing
initiatives to sell the products on the basis of quality, value etc. It makes the customers sensitive
towards the price. It encourages them to buy the products when there are offers on it. It can be
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very detrimental for the future of the company as the customers are more concerned about the
price rather than the brand name.
Discounts can be used to increase sales and customer base for a company. According to
Zeto and et.al, 2013, "Discounts act as a ploy to attract more customers to the store" (Zeto and
et.al, 2013). People prefer to buy products on sale. Limited discount period is likely to attract
more customers to the store. It increases the sales of the company in a short period of time. It
also improves the sales of non-discounted products in the store. Meir, Lu, Tennenholtz and
Boutilier, 2014, concluded that "Offering discounts increases the reputation of the company”
(Meir, Lu, Tennenholtz and Boutilier, 2014). It allows the people who mare having financial
trouble to but the product. It helps an organization to change its image form money hungry
business. The business can also achieve its monthly, quarterly and annual goals. It reduces the
danger of missing the business goals as discounts help them to surpass the budgeted figures. It
maximizes revenues, sales and profits. It motivates people to change their brands and it allows a
company to increase their customers. Discounting strategies have to be planned because it
reduces the profitability of the company. There should be enough sales to cover the loss of price
cut on the products. Sales promotion strategies also include differential pricing and discounting
for diffident target groups. Hande and Ghosh, 2015, concluded that "Sales can be accelerated
with the help of discounts and free gifts” (Hande and Ghosh, 2015). It can be sued to gather the
responses and feedback of the customers. It allows a company to gain the competitive edge in the
industry. It is difficult for the competitors to change their strategy suddenly and this allows the
company to gather more customers.
2.5 Factor that can influence customer’s behavior
Discounts affect the behaviour of customers in many ways. It is essential for a company
to ensure that the customers have positive response towards the company. Their attributes, needs,
lifestyle and purchase decisions all have to be taken into consideration before devising a sales
strategy. Discounts are not only responsible for increasing the sales of the product. There are
many other factors which can influence the behaviour of the buyer like social factors, personal
needs, income etc. Hande and Ghosh, 2015, believed that "The behaviour of a customer is
influenced by many factors around him" (Hande and Ghosh, 2015). He takes into consideration
all the factors before buying a product. On the contrary, Badgaiyan and Verma, 2015, suggested
that "Discounts affect the behaviour and purchase decision of the customers” (Badgaiyan and
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Verma, 2015). Large numbers of factors are present which influences consumer behaviour and
this involves price, quality, expectations etc. Price is considered to be most important factor. As
per view of Brown-Johnson and et.al, 2014, "majority of the consumers on the market purchase
products on the basis of price" (Brown-Johnson and et.al, 2014). Further, purchasing power also
plays most significant role as when customer is having high income then it becomes easy to
purchase any type of product. Moreover, in case if high prices are set by business without
considering purchasing power of target market then it has negative impact on entire company.
Therefore, price plays most crucial role and when discount and other additional benefits are
provided to customers on products then it encourages them to purchase the commodity.
Moreover, it is necessary for business to set prices keeping in view the purchasing power of
target market. This can directly enhance overall performance of business in the market in terms
of profitability and market share. Moreover, it also supports in development of brand image of
enterprise which is the ultimate objective of every business in the market.
However Khare, 2015, argued that "quality is considered to be another crucial factor
affecting purchase behaviour of target market" (Khare, 2015). Every consumer expects high
quality product from company and to satisfy this need is considered to be most important for
business. In short, considering overall expectations and requirement of the target market is must
for enterprise and in case if they are not considered then it is not possible to retain loyal
customers. For understanding customers expectations market research is carried out by business
on continuous basis and this supports in understanding how social trends along with other form
of patterns are changing in the market and business has to respond accordingly. Therefore, in this
way expectations of customers also play crucial role in influencing their purchase decision.
Personal factors of customers also play crucial role in influencing their purchase behaviour. Such
factors involve lifestyle, economic situation, age, personality etc. By considering all these factors
any commodity is being purchased by the target market and this in turn allows business to
develop its competitive strength in the market where overall operations are being carried out.
According to Cheng and Huang, 2013, "before purchasing any type of product additional
offers and benefits provided on the same are compared and by offering discount and other form
of monetary benefits it is possible for business to retain its customers for longer period of time"
(Cheng and Huang, 2013). Understanding purchasing behaviour of target market is necessary for
enterprise and its ignorance can have negative impact on brand image of company in the market.
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Considering the factors affecting consumer behaviour can enhance brand loyalty which is one of
the main motives of business behind carrying out operations in the market. However argued that
where commodity such as magazine or any other type of newspaper is purchased by target
market then lifestyle of customer also plays crucial role as some individuals may prefer to gain
information from different sources such as newspaper, magazine etc and some may not. So, this
factor is also considered to be most important and directly influences purchase behaviour of
target market. As per view of Cochran, 2012, "belief and attitude of customer also plays
important role where business has to consider the overall perception towards its brand in the
market"(Cochran, 2012). By focusing on marketing activities businesses alter attitude of
consumers towards product and this has favourable impact on the entire company.
The factors influencing consumer behaviour supports them in deciding which product to
purchase. Moreover, the entire purchase decisions depend on the need and requirement of target
market and in case if it is not considered then performance of enterprise may decline at faster
pace. In case of every organization customers play most crucial role as they are the one who
purchase products of business. Therefore, targeting them with the help of effective promotional
tools is must for company. However argued Meir, Lu, Tennenholtz and Boutilier, 2014, "that
providing discount and other form of attractive offers assists business to be market leader and it
becomes possible to retain large number of customers easily" (Meir, Lu, Tennenholtz and
Boutilier, 2014). Moreover, it can become reason for success of company in the market. It is the
first and foremost duty of marketers to understand the range of factors which influences
consumer purchase behaviour such as price, past experience, personal factors etc. It can surely
support business to be more productive and to deal with the range of challenges present in the
business environment becomes easier. In short, focusing on discount and other form of offers
enhances sales of the company where higher profits can be earned by organization. So, this
allows in accomplishment of desired goals and objectives of the business. Understanding factors
affecting purchase behaviour of target market brings fruitful results for the company such as rise
in market share along with profitability.
The important factors that influence buying behaviour are:
Price discounts: According to Khare, 2015, "Price discount is an approach where the
price of the goods and services is reduced” (Khare, 2015). It could the reduction in price or
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offering more quantity on the same price. It provides economic incentive to the consumers to buy
the product. It is helpful in enhancing the value of goods and services. Cheng and Huang, 2013,
claimed that "Discounts plays an important role in stimulating the behaviour of new
customers"(Cheng and Huang, 2013). It encourages the customers to try out the products. Most
of the companies use it for seasonal peaks in the sales. It is expected that the customers would
return to the same brand rather than buying other products. Price discounts have been successful
in attracting customers. Apart for discounts, free products, coupons and gift cards are also given
to the customer. It motivates the customers to buy more. It is also useful in attracting the
customers towards the company.
Internal and psychological needs: The buying behaviour of a customer is influenced
motivation and perception. According to Sarkar, Sana and Chaudhuri, 2013, “Motivation is a
drive that encourages a person to buy a product “(Sarkar, Sana and Chaudhuri, 2013). It gives
him satisfaction and fulfils his need. It is one of the internal influences that affect the behaviour
of an individual. The companies are carrying out many researches to induce the behaviour of the
customers. They have been spending a lot of money to change the mindset of the people.
Perception: Apart from internal and psychological needs, expectations and past
experience also affect the buying behaviour of a person. It involves all the factors which change
the perception of person towards a company. Customers also expects something from the
products. It could be quality, quantity or value. They want a brand which maintains the quality of
the product. If a company gives discounts on the product and compromises with the quality.
Then the customers may not buy that product. So, it is essential for The Economist to ensure that
they maintain the quality of the products in the market. They can cut down the costs but they not
change the basic element of the magazine. They have to make sure that in order to acquire new
customers their old customers do not switch to other brands.
Social factors: Social factors which influence the behaviour of the people are family,
reference groups, roles and status. Family influencing the decision making and attitudes of a
person. The taste, life style, likes and dislikes are rooted from the family buying behaviour.
According to Cheng and Huang, 2013, “Family influences personality, attitudes, characteristics
and evaluation criteria of an individual" (Cheng and Huang, 2013). There can be a shared
consumption of products in the family. Children also participate in the decision making of a
product. So, discounts are not the only factor that affects the buying behaviour. Role
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specialization is also an essential factor which determines the buying behaviour. Cochran, 2012,
argued that "Apart from family, cultures, religion and social class also affect the decision making
of a person” (Cochran, 2012). There is difference in the consumption pattern between a wealthy
and a middle class family. Furthermore, the reference group like members, co-workers,
neighbours, religious groups etc affect the selection of an individual. It is for the same reason
that many companies use aspirational groups to insist customers to use a particular product.
Some of the people reject the group that they don't want to be associated with.
Cultural factors: Culture determines a person's values, perception, preference and
behaviour. It decides the consumption and buying pattern. Andrews, Luo, Fang and Aspara,
2014, suggested that "Cultures change slowly over time as such it is important from marketing
point of view" (Andrews, Luo, Fang and Aspara, 2014). People are closely related to their
culture. As a result, many companies use it to influence the buying behaviour of an individual.
Economic factors: Economic factors like personal income, savings, occupation, credit
availability, family income etc are determinants of buying behaviour. Marketing managers take
into consideration the lifestyle of an individual and design the promotional strategies according
to it. All the environmental factors are included in the decision making. The buying pattern of
people also changes with the rise of income. According to Brown-Johnson and et.al, 2014,
"Income and purchasing power change the consumption pattern of a person" (Brown-Johnson
and et.al, 2014). The family income also influences the decision making of an individual. More
surplus incomes mean increased expenditure by the family members. The Economist should
consider all the economic factors of a particular region and devise the strategies accordingly.
Savings and availability of liquid assets are determinants that influence the buying pattern of an
individual. Apart from this, the other economic factors includes inflation, business cycles,
interest rates, personal disposable income etc. determines the buying behaviour of the
consumers.
There are many factors which have affected consumer’s behaviour. It includes purchase
time, quality, brand selection and brand switching. Many of the consumers are also sensitive to
the price changes and they become more attracted towards those products. According to Khare,
2015, "The four views which impact the decision making of consumers are passive view,
economic view, cognitive view and emotional view "(Khare, 2015). The evaluation and the
future of a product is also decided by these factors. Some factors influence a consumer to buy a
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particular product like high purchasing power, physical surroundings etc. Discounts and sales
promotion are interrelated to each other. As per Mahdiloo, Noorizadeh and Farzipoor Saen,
2012, "Promotional tools and techniques ave increased significantly in the recent
years"(Mahdiloo, Noorizadeh and Farzipoor Saen, 2012). It has increased the customer base as
well as sales of of products. Cheng and Huang, 2013, claimed that “Sales promotion can help a
business to increase their sales volume "(Cheng and Huang, 2013). However, there is no
relationship between sales promotion and impulsive behaviour. It has also been found that
introduction of new product cannot be successful without proper sales promotion strategies.
2.6 Research gap
As per the literature review and findings study has concluded that most of the research
studies have conducted investigation on similar subjects. Along with this, past information about
the research study is also based on customer’s behaviour of different other organization. No one
has conducted investigation on effectiveness of discount offers for sales performance of
economist. So, researcher has decided to conduct study on this subject.
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CHAPTER 3: RESEARCH METHODOLOGY
3.1 Introduction
This chapter is regarded as most important chapters of any study as it helps in going
through the selection of appropriate data collection techniques. Research refers to the methodical
and orderly process on the basis of which information can be examined and gathered from
different sources (Tong and et.al,. 2012). This section provides appropriate structure in order to
carry out the research in an appropriate manner. It also provides a correct path to researcher
which he needs to follow and maintain appropriateness of the study. By the way of selecting best
suitable research methods researcher is able to follow all the research ethics. It helps them in
maintaining validity and reliability of the study as well (John Kuada, 2012). To make sure that
research is of high quality and all information being used is rational, the research has to pay
proper attention to these research methods such as ethical consideration, relevance of the sources
as well as limitations of the methods employed (Kumar, 2016). In this regards, it can be
determines that it is highly essential for researcher to have appropriate knowledge about the
distinct techniques and tools available that can aid in the research process. For the same,
different research methods and techniques followed by researcher are as follows.
3.2 Research Aim and Objectives
Aim:
Major aim of the current research is “To evaluate the customer response to discount offer
on magazine sales: A case study of the economist”.
Objectives:
 To identify the effectiveness of discount offers in attracting customers
 To understand the impact of discount offers on sales of economist magazines
 To assess the factors influencing purchase behavior of customers
 To recommend the effective ways through which economist can better influence its
customer response
3.3 Research questions
1. How effective are the discount offers in attracting customers?
2. What is the impact of discount offers on sales of economist magazines?
3. What are the factors influencing purchase behaviour of customers?
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3.4 Research philosophy
It is one of the most common important techniques as it helps researcher in providing
right track from where data should be collated, evaluated as well as used. By the way of applying
most suitable philosophy technique researcher is able to understand right pattern of investigation.
In this concern, Interpretivism and positivism are two major research philosophies (Gazzaniga
and Heatherton, 2015). In this, Interpretivism philosophy helps in getting complete
understanding of the intricate world and also deduces general theories and patterns. It
investigates as per the purpose and specific action of people and totally depends on the nature of
qualitative data. On the other hand, positivism philosophy is based asserts that everything can be
proved by evidence. This philosophy is being applied whenever hypothesis testing takes place. In
this concern, Interpretivism as well as positivism both philosophies have been used in the present
research as hypothesis will also be formed (Abdulghani and et.al., 2014). The nature of this study
is qualitative and quantitative due to which this technique is regarded as a most suitable form.
Further, it is the most suitable technique which makes sure that in depth accurate assessment of
human behavior is obtained from the questionnaire which has been incorporated into the study.
Moroever, it is the most technique which will focus on interpreting the results so as to
accomplish expected findings with the help of this.
3.5 Research approach
The whole research study requires following right track for the completion of study. It is
fundamentally based on two approaches i.e. Inductive or deductive. At the time of incorporating
inductive research researcher will accumulate relevant information as per the given topic under
consideration. Further, most suitable and required information is being gathered and facts are
being observed (King and Mackey, 2016). In this concern, researcher can easily move towards
the general perspective from specific one. On the contrary, deductive approach is totally opposite
process in which theory is contracted to a more specific one. On the basis of this, hypothesis will
be formed in the present study. In this regards, the present study adopts Inductive research
approach as it carried out from point view of economist magazines and on the basis of same
recommendations will be provided to other firms providing information with the help of
magazines etc.
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3.6 Research design
With the help of selecting best suitable and appropriate research design researcher is able
to mitigate the chances of wrong interpretation of data (Jiao, Collins and Onwuegbuzie, 2013).
By this, right track can be followed at the time of conducting this study. Further, it is also
regarded as the blueprint of the study and supports in knowing the type of research being carried
out. There is variety of research design which is being presented in front of researcher such as
casual research design, descriptive, exploratory, case study and experimental. Considering the
nature of present research descriptive design have been selected in order to gain deep insights
about the customer response to discount offer on magazine sales (Guthrie, 2015). It provides
appropriate information and response of customers whenever they get discounts and how it
maximizes sales of the business in the market. Descriptive research design is most suitable and
authentic research design which consists of observation and then describing the actions and
behaviors of subjects. The main reason for using this method is that the respondents are observed
in their natural settings.
3.7 Strategy of the research
Selection of right strategy is one of the most important parts which helps researcher in
following the right track. Here mainly there are two types of strategies i.e. qualitative as well as
quantitative which is also regarded as a research type (Mackenzie and et.al.,2014). Selecting
right research choice is a key concern for incorporating valid analysis techniques and drawing
most suitable conclusion. Among both the research types, qualitative research type is applied
when theories are being developed as per the collected information. This type of research clearly
shows and defines the particular state of activities and problems as well. On the other hand,
quantitative research type makes use of hypothesis testing and conceptions. It is totally based on
the numerical interpretation of data (Bringle, Hatcher and Jones, 2012). In this same concern,
qualitative research type is not focused with the use of mathematical representation. In this
concern, the present study makes use of both qualitative as well as quantitative research as the
methods of data collection are questionnaire survey of the marketing manager. Data is being
analyzed by using both numeric and non-numeric forms of analysis.
3.8 Data collection methods
This method is considered as most important methods on the basis of which researcher
may find most suitable and authentic data as per the given subject matter (Mangal and Mangal,
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2013). There are mainly two sources primary as well as secondary on the basis of which data is
being gathered by researcher. In this regards, data has been accumulated by way of both primary
as well as secondary sources (Wahyuni, 2012). By accumulating relevant data from these two
sources researcher can easily accomplish the mentioned objectives. However, at the time of
collecting data and information from secondary sources researcher does not find appropriate
information. For the same, primary source information also being gathered from authentic and
valid sources so that valid conclusion can be drawn by researcher. Although, both of these
methods are having their benefits as well as drawbacks but still these are competent with each
other.
At the time of selection primary sources data can be easily analyzed by the both
qualitative and quantitative mean (Wahyuni, 2012). Researcher can also derive any type of
information by asking different questions to respondents. In this concern, with the help of
gathering information from primary sources, researcher is able to evaluate the different
viewpoints of as well as reasons behind those perspectives. On the other, utilizing information
from secondary sources is a proven technique which also allows easy collection of primary data.
However, it wastes lot of time to researcher if information is not being available and accessed at
time (Bringle, Hatcher and Jones, 2012) Moreover, considerable amount of time of the
researcher is saved if related data is available and conveniently accessible.
In the current case, both sources have been undertaken where primary information is
gathered with the help of questionnaire from marketing managers of economist group (Fletcher,
2016). They are the one who can give best response towards the customer response to discount
offer on magazine sales. They can also give appropriate information about various factors which
attracts customers towards their company. Further, secondary information has been incorporated
with the help of books, journals and online articles (Rossi, Wright and Anderson, 2013).
Therefore, in this way different type of information has been founded from both the sources
which will support in accomplishing aim and objectives of the study.
3.9 Sampling
This is considered as a most important technique as it helps researcher in saving his
precious time and selecting best sample population. Sampling process makes it easier for
researcher as the whole population of universe narrowed down and appropriate sample size gets
selected (Wach, 2014). It is highly essential for researcher to select the appropriate sample so
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that better information can be obtained. It helps in framing most suitable output as well as valid
conclusion for the given study (Jensen,2013). In this regards, mainly there are two types of
sampling i.e. probabilistic as well as non-probabilistic technique. Under probabilistic sampling
researcher makes use of arbitrary selection process in which whole population gets and equal
chance for getting selected. For the same, researcher needs to identify the population on which
research is being carried out. Moreover, this technique includes various methods such as: simple
random sampling, cluster sampling, stratified sampling and systematic sampling. On the other
hand, non –probabilistic sampling technique possess unequal selection chances. It determines
random selection process in which some components have more likelihood of being chosen than
others (Gazzaniga and Heatherton,2015). There are various methods which represent the non-
probabilistic sampling method such as purposive sampling; convenient sampling, quota sampling
and snowball sampling are the methods.
As far as this research is taken into consideration one of the most suitable sampling
method is purposive sampling. After selecting this technique, 20 marketing managers of
economist group have been undertaken with the help of choosing purposive sampling. Through
this sample size, it will become easier to gather adequate amount of information from the
respondents and this will assist in answering all the research questions.
3.10 Data analysis
After going through the appropriate form of data collection it should be analysed by the
way of appropriate data analysis technique. Data can be analysed by the way of using qualitative
as well as quantitative form. This section is regarded as a most important section of any research
which immediately helps in drawing a valid conclusion (Jiao, Collins and Onwuegbuzie, 2013).
It is the most suitable technique which provides a suitable conclusion to the research problem by
the way of forming appropriate inferences. Both the analysis techniques can be easily analysed
by the way of using different techniques such as: under qualitative methods various themes are
form just to frame appropriate inferences Mackenzie and et.al.,2014). On the other hand,
quantitative analysis provides a statistical or graphical representation of the information. This
technique is totally based on the mathematical interpretation of the data and can be analyzed by
using different software’s such as Ms-Excel, SPSS etc. Further, this technique gives
mathematical accurate data and presents its findings in the form of percentage as well as
correlation, regression etc. In this regards, the present case incorporate both qualitative and
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quantitative method of data analysis as data has been gathered from both the primary as well as
secondary sources (Bringle, Hatcher and Jones, 2012). On the basis of using qualitative tools
different themes have been formed on the basis of primary data. This also supports in knowing
the overall response of the respondents. On the other hand quantitative technique has been taken
into consideration by the way of incorporating graphical representation of data. This can be done
by the way of using Ms-Excel under which hypothesis is being formed and also helps in getting
precise results.
3.11 Ethical issues
At the time of conducting any research it is highly essential for researcher to follow all
the research ethics. It is the only way on the basis of which they are able to draw a valid
conclusion (Rossi, Wright and Anderson, 2013). Ethics are the moral principles and they play
significant role in the entire study. It is highly important for researcher to inform the research
participants about all the details of the study. On the basis of this, all the participants have
appropriate information about the research study (Wahyuni, 2012). In addition to this, keeping
confidentiality of the third party source is regarded as another most important concern which
helps in developing trust. However, prior approval of participants is imperative and it is essential
to inform them before taking any information. The respondents must have to be informed about
their right to withdraw in which they can withdraw anytime they felt inappropriate. In this
present study, various ethical issues have been faced as information that requires to be obtained
from marketing managers of economist group is quite difficult (Jensen, 2013). There is a
possibility that they may not prefer to share information. Generally from the internal sources of
company it is difficult to obtain information as it is confidential. Therefore, this ethical issue may
be faced due to which managers of company may not prefer to share confidential information.
Further, to deal with issue confidential information will be stored in secured place and this will
assist in dealing with this challenge.
3.12 Limitations of the study
There are several limitations which might face by researcher at the time of conducting
any study (Tong and et.al,. 2012). Within this same concern, various limitations have been
presented in the current research such as lack of time as well as financial resources etc.
Researcher needs gather information from 20 marketing managers of economist which requires
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time to gather their inputs. Apart from this, it will enhance overall cost also associated with the
study. Apart from this, the entire study is only being restricted to economist group which is also
a limitation (John Kuada, 2012). Therefore, these are some of the major limitation in the
research.
3.13 Validity and reliability
It is regarded as most important concerns of any study that all information presented in
the research has been gathered from authentic and valid sources. For the same, proper attention
has been paid that each aspect of the study has been carried out so carefully. Due to this, all
results have been found to be reliable (Gazzaniga and Heatherton,2015). Validity of any research
is being presented by its accuracy, correctness as well as exactness. In this regards, the present
research is valid as per the concern of researcher as information is being gathered from valid and
authentic sources. There are several ethical concerns have been followed by researcher in order
to maintain the accuracy and correctness of the study (Abdulghani and et.al., 2014). On the other
hand, reliability refers to the mitigation of inconsistencies from the ultimate results. In the
present research, researcher has taken all the initiatives to resolve any problem regarding validity
and reliability. With the help of following all these rules and ethical concerns researcher is able
to draw a valid conclusion by framing most suitable and appropriate findings.
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CHAPTER 4: DATA ANALYSIS
4.1 Introduction
Analysis of the data is one of the important processes for making final conclusion of any
research. It includes number of research methods and techniques for examining collected facts
and figures. Data analysis is also significant for resolving research problem by determining
appropriate solution. There are various types of techniques by which researcher can examine
collected data. These are qualitative and quantitative techniques of data analysis. Qualitative data
analysis plays important role in analysing subjective and theoretical information about the
research subject. But on the other hand quantitative data analysis is beneficial for examining
numerical information about the research subject. As per the discussion of the research
methodology chapter the current researcher has applied both qualitative and quantitative data
analysis methods for analysing collected facts and figures. Thematic analysis has been sued for
examining theoretical information about the customer behaviour and discount offers of
economist. But on the other hand impact of discount offers on sales of the organization has been
easily analysed by the hypothesis testing. Therefore, thematic and statistical analysis have played
important role in getting appropriate findings for the current investigation.
4.2 Thematic analysis
Analysis of the data using different themes is one of the important techniques of
qualitative data analysis. It helps in understanding research problem in effective manner. It
comprises number of charts, graphs, themes and diagrams for examining collected facts and
figures. As per the above discussion and data collection researcher has obtained large set of data
from online questionnaire survey. Therefore, thematic analysis is one of the appropriate methods
for recording, summarizing, presenting and analysing large amount of data. It allows researcher
to extend the range of study as per the past researches on customer behaviour and discount offers
regarding magazine organization. Interpretation of each and every theme supports the research
question and objectives and applicable to get appropriate solution for each research question. But
researcher needs to focus on different theories relevant to the current subject because these will
help in making final conclusion for the research.
Theme 1: Major factors can influence the behaviour of customers at the time of purchasing a
magazine.
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2. Which factors can influence the behaviour of customers at the time of
purchasing a magazine? Frequency
Discount offers 12
Quality of products 5
Marketing and promotion 3
For understanding the research problem author needs to focus on various factors which
can influence the purchase decision and behaviour of customers. This is the major reason behind
which researcher has included the above question in questionnaire survey. After conducting
investigation author has found that approximately 12 participants have believed that discount
offers are included in the major factors which can influence the purchase decision and
customer’s behaviour in positive as well as negative aspects. But, collected data and facts and
figures have reflected that 5 respondents have provided their vote to quality of the products and
services which are offered by the economist magazine to its customers. Therefore as per the
above facts quality is an appropriate factors that can easily influence to change their decisions.
But on the other hand above graph has reflected that 3 participants have not provided their votes
to quality and discount offers. Because they believed that marketing and promotion strategies of
an organization can easily influence customer’s behaviour. Overall, analysis of the above theme
has reflected that quality, discount offers, marketing and promotions all are important factors
which can influence customer’s behaviour. But highest frequency has shown that discount is one
of the major attraction factors for customers.
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Theme 2: Different types of discount offers which are used by economist magazine
3. Which types of discount offers are used by economist magazine? Frequency
Free coupon 4
Discount on volume purchase 3
Percentage based discount 5
Free shipping 6
Free gifts 2
For analysing effectiveness of discount offers researcher needs to identify all those
discount strategies which are used by economist magazine for attracting their customers and
increasing sales. So, author has included the above question in questionnaire survey. After
analysing the above theme author has found that there are number of discount offers which are
used by economist magazine. In which 6 participants have thought that free shipping is one of
them most effective and attractive discount strategy for economist magazine for attracting
number of customers. Along with this, 5 respondents have provided their vote to percentage
based discount offers. But on the other hand, 3 candidates have thought that discount on volume
purchase is also one of the important marketing strategies by which economist provides
appropriate discount offers to its customer. On the other hand, 4 respondents have thought that
free coupon is also one of the appropriate methods for providing discount offers to customer
because it also helped in changing behaviour of customers. Along with this, 2 participants have
said that economist magazine provides appropriate free gifts to customers. Overall, average
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frequency has reflected that each and every option has got appropriate frequency of response
from management team of economist magazine. Therefore, it has concluded that this
organization has applied appropriate discount offers as per the needs and requirements of
customers which help in changing the behaviour of customers in positive and negative aspects.
The above theme has played very important role in identifying and understanding different
discount offers of economist magazine.
Theme 3: Economist magazine uses discount offers at different time.
4. When economist magazine uses discount offers? Frequency
Weekly/ monthly/ regular basis 3
At the time of launching any new magazine 4
Holiday or seasonal offers 2
Subscription offers 5
First time shopper offer 4
Customer loyalty offers 2
Findings of the literature review and above theme have reflected that economist magazine
provides appropriate discount offers to its customers. Along with this, for attaining aim and
objective researcher needs to determine when and how organization needs to use these discount
offers. So, researcher has included the above question in the questionnaire survey. According to
the above graphical analysis 5 participants have believed that economist magazine provides
discount offers at the time of starting subscription of the magazine and these offers are known as
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subscription offers. But on the other hand 4 participants have believed that economist magazine
provides discount offers at the time of launching any new magazine and these offers are known
as promotional offers. Similarly 4 participants have believed that economist provides appropriate
offers to all those customers who purchase economist magazine at first time. But on the other
hand, 3 candidates have stated that economist offers weekly and monthly offers to its customers.
Holiday and seasonal offers are also voted by 2 participants. As like the same 2 participants have
believed that customers loyalty offers are also provided by economist. Overall, average
frequency has reflected that economist magazine provides lots of discount offers to attract
customers which can change the behaviour of each and every consumer. Above theme has found
that economist magazine provides discount offers weekly / monthly regular basis, at the time of
launching any new magazine, holiday or seasonal offers, at the time of subscription, first time
shopping of this magazine and on the basis of customer loyalty. Above theme has disclosed most
appropriate findings for attaining aim and objectives of the current investigation.
Theme 4: Major effectiveness of discount offers for Economist magazine organization.
5. What are the major effectiveness of discount offers for Economist
magazine organization? Frequency
Attracting customers 5
Increasing sales of the company 6
Increasing repeat purchase 4
Attaining competitive advantages 3
Improvement in marketing performance 2
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Determining the effectiveness of discount offers for influencing customer behaviour is
the major aim of the current investigation. For attaining this aim author has included the above
question in the online questionnaire survey. After analysing facts and figures author has found
that 6 respondents have said that major effectiveness of discount offers is increasing sales of the
organization. But on the other hand, 5 participants have believed that attracting customers is one
of the major advantages of discount offers which are used by economist magazine. Similarly, 4
participants have believed that increasing repeat purchase of customers is also considered as
significance of discount offers for economist magazine. But on the other hand, using the discount
offers economist magazine can attain competitive advantages in effective manner. So, it is also
known as effectiveness of discount strategy for company. Including this, above theme has shown
that only 2 participants have believed that improvement in marketing performance is major
significance of discount offer for organization. On the basis of the highest frequency author has
disclosed that increasing sales and attracting customers are major efficiency of discount offers
for economist.
Theme 5: Influence of discount offers on customers of economist magazine
6. How discount offers can influence behaviour of customers of
economist magazine? Frequency
Influence them to purchase that particular magazine 8
Increase the loyalty 7
Helps in purchase decisions 5
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Findings of the literature have reflected that discount offers can easily influence
customer’s behaviour at the time of making purchase decision. For getting appropriate findings
about the influence of discount offers on customer purchase author has included the above
question in online questionnaire survey. Above theme has reflected that there are three major
impacts of discount offers on behaviour of customers. As per the above graph 8 participants have
believed that discount offers can influence each and every customer to buy that particular
magazine without any specific needs and requirements. Along with this, 7 participants have
believed that discount offers can increase the loyalty of customers towards the organization and
magazine. On the other hand, 5 participants have believed that discount offers help in making
appropriate purchase decisions. Therefore, average frequency has reflected that discount offers
can influence customers to make purchase decision to buy that particular magazine and to
increase customer loyalty. Overall, above theme has played very important role in attaining aim
and objectives of the current investigation.
Theme 6: Major negative impacts of discount offers on sales of economist magazines.
7. What are the major negative impacts of discount offers on sales of
economist magazines? Frequency
Negative image about the company 7
Create a question mark on quality 7
Influence them to purchase high volume without any requirement 6
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As per the literature discount offers also have lots of negative impacts on customer’s
behaviour. So, for attaining the last objectives and making appropriate recommendations
researcher needs to determine all these negative impacts. Author has found that 7 participants
have believed that discount offers can create negative image of the economist magazine in
customer’s mind. Along with this, 7 respondents have also thought that discount offers can create
question mark on quality of the products and services of the organization. Further, 6 participants
have believed that due to discount offers customers purchase economist magazine with high
volume without any specific needs and requirements. Therefore, above theme has reflected that
there are lots of negative impacts of discount offers which can affect the brand image of
economist magazine. So, organization needs to use appropriate strategies to overcome these
negative impacts.
4.3 Statistical analysis
As per the above discussion author has used different techniques for analysing and
examining numerical facts and figures. These techniques ate known as quantitative methods of
data analysis. For the current research author has used hypothesis testing because researcher has
got appropriate insights to understanding the research problem by review of literature. On the
basis of these insights and assumptions author has developed appropriate hypothesis for making
final conclusion. For testing these hypotheses author has used a non-parametric test such as chi
square. It was appropriate for the current research because it has helped in making comparison
between expected and actual outcomes of responses for the formulated hypothesis. Application
of chi square test is as follows:
Chi Square test:
It is one of the important test for making comparison between different groups. Along
with this, it also one of the effective method for differentiate observed and expected responses in
a specific question of an online survey. Fir the current research author has applied chi square test
for determining that whether discount offers is one of appropriate strategy of economist
magazine to attract customers or not. Along with this, author has also used the same statistical
methods for analysing that whether discount offers affect sales of economist magazine or not. In
this test author has assumed that level of significance for the current research is 5% and degree
of freedom is n-1 (5-1= 4). After calculating the value of chi square for testing null and
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alternative hypothesis author needs to compare both tabulated and calculated value of the test. In
this research tabulated value of chi square on 55 level of significance and 4 degree of freedom is
9.48. After making comparison author needs to accept or reject null hypothesis. If calculated
value is less than the tabulated value than researcher needs to accept the null hypothesis and vice
versa.
Hypothesis 1:
Null hypothesis (H0): Discount offers is not an appropriate strategy for economist magazine to
attract customers.
Alternative hypothesis (Ha): Discount offers is one of appropriate strategy of economist magazine
to attract customers.
8. To which extent you believe that discount offers is one of appropriate strategy of
economist magazine to attract customers?
S. No. Responses No. of responses % of Responses
1 Strongly agreed 11 55.0%
2 Agreed 6 30.0%
3 Neutral 1 5.0%
4 Disagreed 1 5.0%
5 Strongly disagreed 1 5.0%
Total responses 20 100.00%
Observed (O) Expected (E) O-E (O-E)2 (O-E)2/E
11 4 7.00 49.00 12.25
6 4 2.00 4.00 1.00
1 4 -3.00 9.00 2.25
1 4 -3.00 9.00 2.25
1 4 -3.00 9.00 2.25
Calculated value of Chi Square 20
For attaining the aim and objectives of the research author has included the above
question in survey methodology. As per the above table calculated value of chi square is 20 and
tabulated value is 9.48. Comparison of both value has reflected that calculated value is greater
than critical value of chi square. So, author needs to reject the null hypothesis and accept the
alternative one. Therefore, after applying chi square test author has found that discount offer is
one of appropriate strategy of economist magazine to attract customers. It has helped din
resolving research problem in effective manner.
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Hypothesis 2:
Null hypothesis (H0): Discount offers cannot increase the sales of economist magazine.
Alternative hypothesis (Ha): Discount offers can increase the sales of economist magazine.
9. Are you agreed with the statement that “discount offers can increase the sales of
economist magazine”?
S. No. Responses No. of responses % of Responses
1 Strongly agreed 9 45.0%
2 Agreed 6 30.0%
3 Neutral 2 10.0%
4 Disagreed 2 10.0%
5 Strongly disagreed 1 5.0%
Total responses 20 100.00%
Observed (O) Expected (E) O-E (O-E)2 (O-E)2/E
9 4 5.00 25.00 6.25
6 4 2.00 4.00 1.00
2 4 -2.00 4.00 1.00
2 4 -2.00 4.00 1.00
1 4 -3.00 9.00 2.25
Calculated value of Chi Square 11.5
For attaining aim and objectives author needs to determine the impact of discount offers
on sales performance of the economist magazine and that’s the reason author has applied the
above question in survey. Above chi square test table author has found that calculated value of
test is 11.5 and tabulated value is 9.48. It has reflected that calculated value of chi square is 11.5
is greater than tabulated value. Therefore, author needs to accept the alternative hypothesis and
reject the null one. Therefore, author has disclosed that discount offers can increase the sales of
economist magazine.
4.4 Interpretation and discussion
Data analysis chapter has included thematic and statistical analysis methods for analysing
collected facts and figures. Thematic analysis has helped in examining qualitative information as
well as statistical analysis has helped in analysing numerical and quantitative information about
the research subject. Both methods have helped in attaining aim and objectives in effective
manner. Along with this, findings of the research have also helped in resolving the research
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problem in effective manner. Thematic analysis has reflected that economist magazine uses the
number of discount offers for attracting customer. Along with this, research study has also found
that there are number of factors which can influence the purchaser decision and behaviour of
customers of economist magazine. According to the data analysis these factors are discount
offers, quality of products, marketing and promotion and price of magazine, etc. By all these
factors customers are easily influenced to buy particular products and services. Along with this,
qualitative analysis has also focused on different offers which are used by economist magazine
and analysis has reflected that this organization provides free coupon, discount on volume
purchase, percentage based discount, free shipping and free gifts. All these offers increases the
purchase value for customers as will also raise the level of satisfaction of customers towards the
purchase of economist magazine.
Research study has also diclosed that when economist magazine uses the discount offers
on regular basis or for a specific purpose or occasion. After completing data analysis author has
found that economist magazine provides different discount offers at different time. For example,
it provides discount on weekly/ monthly/ regular basis which raise the quarterly sales
performance of the organization. Along with this, company provides discount on magazines at
the time of launching any new magazine it helps in increasing awareness of any new products
and rising attracting of customers towards the new launch. Including this, research has also
disclosed that organization provides holiday or seasonal offers which increases sales in off
season and holiday duration. In addition in case of any new subscription economist magazine
provides subscription offers which also raise the online subscription and online sale of the
organization. At the time of making first purchase company makes some specific discount for
customers and for loyal customers’ organization provide specific benefits to them. Therefore,
organization provides number of discount offers at the time of purchase of customers.
For attaining aim and objectives author has included question about the effectiveness of
discount offers for economist magazine. After analysing this question author has found that
discount offers are very effective for an organization. It helps in attracting customers, increasing
sales of the company, increasing repeat purchase, attaining competitive advantages and
improvement in marketing performance. Because thorough the discount offers customers get
attraction towards that particular magazine and due to this reason they get influence to buy it. It
increases the number of customers and overall sales of the organization. Further, on the basis of
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the regular discount customer tries to repeat purchase of particular product which helps in
increasing the brand image of the organization. Along with this, discount offers helps in
increasing the power of organization to attain competitive advantages. Therefore, research has
found that discount offers are very significant for improving the overall performance of
organization.
Researcher also wants to understand the customer’s behaviour and data analysis has
found that discount offers can influence the customer’s behaviour in terms of purchase, buying
decisions and loyalty. Therefore, purchase of customers can be raised by discount offers.
Discount offers have lots of negative impacts on overall performance of the organization so,
author has also make appropriate conclusion about the same. After conducting data analysis
author has found that lots of discount offers can create negative image of the organization in
customer’s eye. Along with this, discount offers can create question mark on quality of the
particular products and services of the company. Along with this, without any requirements
customers attract customer to purchase high volume of economist magazine. Therefore, all the
negative impacts affect the overall performance of the company. So, organization needs to adopt
appropriate strategies to improve overall performance of the company.
Quantitative data analysis of the current research has concluded that Observed and
expected frequency of responses is quite different. Analysis has reflected that offers is one of
appropriate strategy of economist magazine to attract customers. Along with this, chi square test
has also found that discount offers can increase the sales of economist magazine. Therefore, all
findings of the data analysis have helped in attaining aim and objective in effective manner.
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CHAPTER 5: CONCLUSION AND RECOMMENDATION
5.1 Conclusion
The above study is based on the analysis of increasing sales of company due to the
changing behaviour of customers. It has been concluded that there are various factors which
affects the whole buying behaviour of customer. In this concern, the present study shed light on
the responses of customers towards the discount offer on magazine sales. For the same, the
leading magazines of economist group have been taken into consideration. On the basis of this, it
has been identified that majority of business these days are introducing several discount offers in
order raise their sales volume and financial performance of the organization.
Economist group is mainly focused with the latest and current trends and affairs of the
markets and publish it in through newspapers and magazines. It has been identified that this
company does not make any discount offer on their magazine but sometimes it provides different
discount offers to its customers. By maintaining this custom they have found several benefits
associated with the same and easily able to develop their positive brand identity in the mind-set
of customers. From the above literature section it has been concluded that economist magazine
go through the promotion of different products and services which are used by different
organization. By printing this discount offers they are able to attain two most effective
advantages. Firstly, they can raise their brand awareness and attract huge base of customers with
the same. Secondly, they are also able to raise the brand awareness of the various companies
which are making promotion through the use of this magazine. Companies are using different
promotional methods such as ad, email, mobile, digital, internet marketing, social media
marketing and various promotional tools also. It has been founded that discount offers also
regarded as a best promotional way on the basis of which companies are able to attract more
number of customers and increasing sales performance of particular products. It is having direct
impact on the profitability as well as sales of company. It has been concluded that discount
pricing strategy is significant for driving traffic and sales for short term.
At the time of presenting discount pricing Strategy Company needs to be more focused with the
high quality products at low price rate. It is being determined that there are different types of
discount strategy which economist magazine may opt such as discount on the basis of purchase
volume, loyalty, promotion and seasonal. Most of the companies provide discount offers to their
loyal customers. For the same, company offers them a free product on purchase of a fixed
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amount of products. There are various other types of discount offers which can be offered for
short term as well as long term profit. In this regards, it has been determined that companies are
able to attract customers and increasing sales but organization applies these strategies on the
basis of the market demand and situations.
The above literature section clearly presented that discount is regarded as an effective
form of promotion which enhances brand loyalty and without indulging into this type of practice
it is not possible for business to sustain in the market. It plays a most crucial role in influencing
customer behaviour as well as increasing sales, marketing and promotion, increasing customers,
etc. It highly affects the overall sales of company due to the changing customer behaviour and
maintaining their positive attitude towards company. Discounts can affect short term sales, brand
loyalty, longer term profits and total supply costs. It has been founded that it increases the
expectations of the customers and they want better discounts on the products in the following
year. It is also being determined that whenever company offer their products on discount, they
have to sell more products in order to meet the expectations of the management. Further, it is
also being identified that discount strategies needs to be planned so that profitability of the
company can be enhanced. Moreover it is being assessed that there are various factors which
influence the buying behaviour of customers such as social factors, personal needs, income etc.
Among all these factors price has been concluded as a most important factors. Moreover, in case
if high prices are set by business without considering purchasing power of target market then it
has negative impact on entire company. By keeping low prices and maintaining high quality of
products companies are able to attract number of customers and easily able to enhance their
sales. For the same, appropriate market research needs to be carried out in order to understand
customers’ expectations. It has been identified that there are several personal factors which
hampers the overall buying behaviour of customer such as lifestyle, economic situation, age,
personality etc. With the help of these factors, any commodity is being purchased by the target
market and this in turn allows business to develop its competitive strength in the market where
overall operations are being carried out. In addition to this, belief and attitude of customers plays
a most important where business has to consider the overall perception towards its brand in the
market.
It is being identified that there are several additional benefits and offers provided by
companies as compared by offering discount offers. It is the most effective way through which
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more number of customers can be retained for a longer period of time. Other most common
factors are Price discount, Internal and psychological needs, Perception, Social factors, Cultural
factors, Economic factors etc. From the literature section it has been founded that price discount
is one of the most effective resource on the basis of which more number of customers get
attracted. This technique has proven to very successful in attracting more number of customers
and providing them quality services. It is regarded as a most effective technique which helps in
encouraging customers to try out the products. Most of the companies use it for seasonal peaks in
the sales. In addition to this, expectations and past experience also affect the buying behaviour of
a person. It clearly states that discounts are not the only factor that affects the buying behaviour.
It has been concluded from the whole section that family, cultures, religion and social class also
affect the decision making of a person. Further, the above research clearly shows that customer
buying behaviour may get affected due to the several discount offers provided by customers.
Within this concern, it has been founded that there are discount offers are most effective way on
the basis of which consumer base can be enhanced. It also helps in maintaining appropriate base
of customer and enhancing their loyalty.
In addition to this, from the above objective it has been concluded that sales promotion
activities like discounts; free samples etc. have direct influence on the customers. It has been a
useful technique for a business because it is less costly as compared to other promotional tools. It
has helped many companies to increase their market share. Moreover, the whole findings section
also presented the conclusion in order to accomplish all the presented objectives. From the
finding section it has been founded that large number of results through which it is possible to
accomplish aim along with objectives of the study. Further, primary study has shown that large
numbers of factors are present which influences purchase behavior of the customers at the time
when they purchase magazine. Majority of the customers replied that discount offers being
provided on the magazines attracts them and in turn they prefer to purchase product. They are
interested in knowing about the offers on magazines and this influences their purchase behavior.
Majority of the customers are attracted towards additional offers provided to them and this in
turn has enhanced sales volume of the enterprise. Apart from this, marketing along with
promotional strategies of the business can directly influence purchase decision of the customers.
Primary information has highlighted that free shipping as type of discount offer is mainly used
by the economist magazine. It directly acts as source of attraction and due to this reason
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economist magazine company is able to retain its customers. Organization has applied
appropriate discount offers as per the needs and requirements of customers which help in
changing the behavior of customers in positive and negative aspects. Further, at the time of
launching magazine mainly discount offers are used by company and this encourages them to
know about the product and enhances sales volume. The themes presented in analysis section
founded that however there are various factors which affects the buying behavior of customers
but with the same, discount offer is regarded as a most common way which influence the whole
buying behavior. Moreover, it has also been identified that discount offers help in making
appropriate purchase decisions. Therefore, average frequency has reflected that discount offers
can influence customers to make purchase decision to buy that particular magazine and to
increase customer loyalty. Further, within this concern it is being believed that economist
magazine can easily attract huge base of customers by the way of offering them high quality
offer. In this regards, it is being determine that organizations are adopting several strategies in
order to incorporate higher competitive advantage within their business operations.
Economist magazine provides discount offers at the time of starting subscription of the
magazine and these offers are known as subscription offers. This has enhanced brand loyalty also
and assists business in accomplishment of desired aims and objectives. Basically discount offers
are effective enough in enhancing sales volume of the company and business is able to grab
attention of large number of customers. Through attractive offers customers are indulged into
activities of repeat purchase and this is one of the main reasons behind popularity of economist
magazine in the market. Results of primary study have shown that discount offers can influence
each and every customer to buy that particular magazine without any specific needs and
requirements. Therefore, average frequency has reflected that discount offers can influence
customers to make purchase decision to buy that particular magazine and to increase customer
loyalty it is considered as one of the most effective way. Moreover, discount offers can create
negative image of the economist magazine in customer’s mind as they may perceive that
information shared with the help of magazines may be outdated or of no use. Through
applicability of Chi square test it has been found that discount offer is considered as one of the
most effective strategy in order to boost sales. Through this, basic aim of the study has been
accomplished where discount offers have direct linked with sales volume of magazines. Further,
it has been assessed that by focusing on discount offers on continuous basis it is possible for
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business to enhance sales volume and this can bring fruitful results for the entire organization.
The entire primary analysis has shown that by focusing on discount offers it is possible for
management to accomplish desired aims and objectives.
5.2 Recommendations
The sales promotion strategies are not only limited to the discounts and price cuts. There
are many other methods which can be used by The Economist to increase their sales. It will
allow them to cater the needs of all the customers. It will benefit them in the long run too
(Andrews, Luo, Fang and Aspara, 2014). Many companies give discounts after compromising
with the quality and quantity of the products. It can be detrimental for the interest of the
company. Those brands which have healthy profit margins can use sale promotion to temporarily
increase their sales. Some of the recommendations for The Economists are as follows:
 Percentage based discounts: Instead of offering price discounts, The Economists can
give percentage based discounts to its customers (Brown-Johnson and et.al, 2014). They
can use small to large discounts to sell off merchandise which has become obsolete.
Apart from that, they can make use of dollar based discounts.
 Free shipping: Economists can use free shipping methods to increase the sales and order
size of the products (Mahdiloo, Noorizadeh and Farzipoor Saen, 2012). Many customers
leave the shopping cart abandon because of shipping charges. It will allow the company
to increase the conversion rate. High sales and revenues would cover the cost of shipping
for the company.
 Free gifts: Free gifts can be used to attract new customers towards the magazine. It can
be an effective way for The Economist to increase the value of the product and to
increase the size of the orders. They can organize events for the customers (Brown-
Johnson and et.al, 2014). It will help them to create awareness about their products in the
public.
 Coupons: The Economists can also give away discount coupons to the customers. These
coupons can be used on the next purchase of the product (Sarkar, Sana and Chaudhuri,
2013). It can be used by the customer for trail buying and to switch the brand. It will
allow the company to send notifications and offers to the customers. Coupons have been
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very useful in acquisition and conversion of customers (Meir, Lu, Tennenholtz and
Boutilier, 2014).
 Buy one get one offers: This type of offer requires no additional cost. Furthermore, it
adds value to the product for the consumers (Cochran, 2012). The bonus offers or a free
product encourages customers to try that product. It can be used by The Economists to
change the preference of the customers. They can also give away their new editions and
magazines to the existing customers. Apart from this, it is also a useful tool to clear off
obsolete goods from the inventory.
 Weekly and monthly offers can be used to increase the sales. It will allow The Economist
to improve their sales and revenues. These offers are usually provided at the end of
month or year to clear obsolete goods (Yang and et.al, 2013). It will allow The
Economists to meet their monthly goals and objectives.
 Per launch offers and free samples can help them to establish a new product in the
market. It can be used to drive the audience towards their product (Zeto and et.al, 2013).
Furthermore, it will reduce the cost of marketing and promotion.
 Holidays or seasonal offers can be used by The Economist to temporarily increase their
sales. They can create offers for the special days or vacations which will allow them to
increase their revenues (Hande and Ghosh, 2015). The entire year has many days like
Christmas, Black Friday, and New Year etc. which can be used to promote the products.
 Reduction in the abandonment of carts can also increase the profitability. It has been
found that 70% of the visitors leave their cat. Free shipping, abandon cart emails and
other offers can be used by The Economist for this purpose (Badgaiyan and Verma,
2015). They can provide offers to their regular customers. They have to improve the
abandon cart recovery mechanism of the business which will give those benefits in the
long run.
 Free subscriptions and newsletter offers can be given to new users. Many companies give
gift coupons to encourage referrals. It has been seen that people prefer to buy more from
the referrals by family member or friends (Khare, 2015). The Economists can launch
such a scheme which will enable them to increase their network and market share.
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 Increase the online presence of the magazine by encouraging people to join their sites.
They can create events which allow the customers to take part in it. It can be a useful way
for the company to attract new customers towards their social networking sites (Cheng
and Huang, 2013). The Economist can give their visitors some benefits if they share the
magazine and its information.
 Rewarding the customer who has been with the company for a long period of time. It will
strengthen the bond between the company and the customers. It will make the customers
more loyal to the company and they will use their services for a long time. The
Economist can send personalized offers to their loyal customers (Zeto and et.al, 2013). It
will help them to retain the customers.
 Partnering with celebrities and bloggers who can influence the people. It will increase the
exposure of the brand and help the company to grow (Cochran, 2012). The Economists
can use it for the promotion of their new products as well.
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APPENDIX 1
Questionnaire for management team of Economist magazine
1. Demographic information of management team of Economist magazine.
Name:
Level of management:
Gender:
2. Whether economist magazine provides discount offers to customers or not?
 Yes
 Not
3. Which factors can influence the behavior of customers at the time of purchasing a
magazine?
 Discount offers
 Quality of products
 Marketing and promotion
4. Which types of discount offers are used by economist magazine?
 Free coupon
 Discount on volume purchase
 Percentage based discount
 Free shipping
 Free gifts
5. When economist magazine uses discount offers?
 Weekly/ monthly/ regular basis
 At the time of launching any new magazine
 Holiday or seasonal offers
 Subscription offers
 First time shopper offer
 Customer royalty offers
6. What are the major effectiveness of discount offers for Economist magazine
organization?
 Attracting customers
 Increasing sales of the company
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 Increasing repeat purchase
 Attaining competitive advantages
 Improvement in marketing performance
7. How discount offers can influence behavior of customers of economist magazine?
 Influence them to purchase that particular magazine
 Increase the loyalty
 Helps in purchase decisions
8. What are the major negative impacts of discount offers on sales of economist magazines?
 Negative image about the company
 Create a question mark on quality
 Influence them to purchase high volume without any requirement
9. To which extent you believe that discount offers is one of appropriate strategy of
economist magazine to attract customers?
 Strongly agreed
 Agreed
 Neutral
 Disagreed
 Strongly disagreed
10. Are you agreed with the statement that “discount offers can increase the sales of
economist magazine”?
 Strongly agreed
 Agreed
 Neutral
 Disagreed
 Strongly disagreed
11. Please suggest appropriate strategy and dispocu8nt offers to influence behavior of
customers?
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