The shoe company is a subsidiary of the town shoe which is considered to be one of the largest shoe retail stores in Canada having more than 60 branches around Canada. To give and to retail their customers the company is offering 10% cash back and are also giving a chance to win %1000 as a grand prize along with iPods.
How To Participate?
All customer needs to participate
- Visit theshoeq.com and select the option where you had shopped.
- Customer has to enter and receipt number and store information from where he has recently purchased anything.
- Enter your date and time and total purchase amount information.
- As a token of appreciation of coming online and participating 10 % discount is being offered for a next time purchase of more than $39.99
- Customer then have to fill an online survey form
- On completion of this survey form, customer can either win an instant ipod or a chance to win $1000
Pros and Cons:
Advantages of this cash prize:
- Customer gets an instant win bonus of 10%.
- Customers can try having a go to their luck to get monetary benefit.
- Companies have their brand and company name promoted to masses to help those building new customers.
- Every customer is a winner doesn’t matter he wins the grand prize or not.
Disadvantages of this cash prize:
- Customers have to buy number of items for get number of purchase receipts so that they can try their luck
- Sometimes customers don’t get the grand prize even after spending more than that.
- They have to invest more even to avail that 10% win bonus.
Prize Schemes are an added advantage for a company to sale their products and to reach the masses. They also retain their customers by offering simple upfront benefit so that customer has to visit their shop again to avail that bonus. Prize schemes usually attract more customers towards it and customers also try to get more and more benefit from these kinds of prize schemes. Customers on the other hand keep on trying to get the grand prize and sometimes remain on the losing side which results in blaming the companies that they give prizes to their own people rather than facilitating the general customers.
The customer who eventually gets the grand prize become more satisfied with the performance of the company and become a permanent customer to the company. Not only he keeps visiting the company outlets but also refer others to have some kind of purchasing from the company’s outlets. Companies in this way get two kinds of advantages
- They make and retain new and valuable customers.
- They get their brand or company promoted in a unique way.