Product, Place, Price, Promotion are the four elements of the marketing mix in its classic sense – the so-called 4P. The area that is least talked about in the industry is of course price. The reasons may be different. First of all, it is the least topic of discussion for marketers – although for consumers it is exactly the opposite.
Besides, price is something that goes to the deepest business guts of a company, and organizations are usually reluctant to share the actual reasons why something costs what it does.
I have the impression that in recent years, the prices of individual products have been discussed mainly through the prism of omnipresent inflation. The numbers on the labels were going up and we all had to get used to it. However, a period of sobering up is slowly coming. People are starting to really feel the changes in their wallets (I’m talking about the world as a whole) and those responsible for pricing have to adjust their strategies to this. McDonald’s is extending discount campaigns because it has begun to notice that it is simply becoming too expensive for ordinary consumers.
Combos, or special deals that consist take telegram advertising service of several product categories, are being introduced and promoted by more and more companies – including supermarkets.
I think we are entering an era where we need to extend creativity to our pricing strategies as well.
Contents:
- McDonald’s is fighting for lower-income customers.
- ChatGPT will think before answering
- Meta will train AI in the UK
- A month without social media
- Prosecutors want warnings on social media
- Instagram in private mode
- Spotify is kid-friendly
- Get active with Virgin Active
- New tools for advertisers
- Earn money by traveling
- Shorts
- Weekly Tool
- Knowledge from the blog
McDonald’s is fighting for lower-income customers.
The world’s largest restaurant chain has been struggling with an image of being a bit too expensive for the average budget. The brand is trying to change consumer perceptions with special offers.
McDonald’s is extending its $5 Meal Deal promotion in the U.S. for the second time this year, offering a combo that includes a sandwich, small fries, nuggets and a drink for a discounted price of $5. The campaign is set to run through December of this year – unless it is extended again.
In recent years, many chains have significantly raised their menu prices, prompting customers to seek out cheaper alternatives. For example, this year, a Big Mac costs 21 percent more than in 2019.
ChatGPT will think before answering
Open AI has released another version of its flagship product. The model, officially called “o1,” is also known by the more appetizing nickname “Strawberry.” The new Chat can solve more complicated problems, break down complex issues into their components, and apply different approaches to assessing a given issue.
The program’s skills are comparable to those of PhD students in physics, chemistry, and biology. The new iteration of Chat also does great with coding and mathematics. It does much better in this respect than GPT-4o. The latter solved only 13 percent of the qualifying tasks for the International Mathematical Olympiad. Meanwhile, Strawberry passed the “exam” with a score of 89 percent.
The downside of the latest model is its energy consumption and relatively long response time. That is why the possibility of using it is currently limited to 50 questions per week (for ChatGPT Plus users). Strawberry is also available in a slightly slimmed down version o1-mini with a limit of 30 questions per week.
Meta will train AI in the UK
In the coming months, Meta will begin training its AI models on public Facebook and Instagram posts from adult users in the UK, with plans to “expand” to other European countries in the future.
The company intended to start training AI on will it get weirder in advertising? the Old Continent in June. However, its plans were thwarted by NYOB, a Vienna-based privacy organization, which sounded the alarm, demanding that regulators intervene in the matter.
For now, Meta has reached an agreement with the British Information Commissioner’s Office, the institution responsible for supervising the protection of personal data, and discussed the conditions for training AI in the UK. According to the agreement, the giant will use only public posts of adult users for this purpose, including photos, descriptions and comments.
Users will receive notifications via the application about the procedure and the possibility of objecting to the use of their data.
A month without social media
Social media overuse can be unhealthy. Especially in the run-up to an election campaign. That’s why Stonyfield, an American dairy company and producer of “organic” yogurts, is encouraging consumers to take a month off from “social” in an unusual campaign. The brand plans to reward 100 randomly selected social abstainers with a thousand dollars.
The lucky winners will be selected from those who declared abstinence via the Toxic Free Election landing page on StonyField – leaving their contact details.
The brand explains that supporting a healthy lifestyle and helping consumers avoid toxins is in its DNA. The idea of associating (un)healthy food with politics came during an internal brainstorming session.
Prosecutors want warnings on social media
The view that social media is harmful is also shared by U.S. officials. A coalition of 42 state attorneys general has called on Congress to introduce warnings on social media platforms, similar to those on cigarette packages, that would inform about the risks that social media poses to the mental health of children and teens.
The link between excessive social media use and mental health problems has been discussed for years. Research by the American Medical Association has shown that spending three hours a day on social media doubles the risk of developing depression in teenagers. However, such conclusions are based on correlations. There is still a lack of reliable data on cause-and-effect relationships.
Experts commenting on the prosecutor’s initiative canada data point out that introducing warnings on social media could discourage advertisers, potentially prompting them to redirect their budgets to other channels.
Instagram in private mode
The main stakeholders are not indifferent to the controversy regarding the influence of social media on minors.
Instagram has announced the introduction of private accounts by default for teens, citing safety concerns. The changes apply to users under the age of 18 in the US, UK, Canada, and Australia, and soon in the EU. New accounts will automatically be subject to restrictions, while existing ones will be transitioned to private within 60 days.
Teen users will only be able to receive messages from people they follow or have previously been in contact with. They will also have limited access to “sensitive” content, such as violence or beauty treatments. The system will also send a notification to users who spend more than 60 minutes on the app.