Marketers ply cash promotions

Cash promotions taking the place of merchandise offers; Starbucks talks financial future; GM and Tiger Woods end endorsement deal; and more

Marketers seeking to gain attention from cash-strapped consumers are moving away from offering promotional merchandise for contests toward providing money incentives, The New York Times reports.

Some brands, like Doritos and Dubai Duty Free, are hoping to gain attention by offering seven figure prizes. David Malencon, chief executive of the Ito Partnership, a brand consultancy, told the Times that when many companies are cutting their marketing budgets, such a strategy may result in “selling out your brand for a couple quarters of growth.”

Also:

Starbucks warns investors that it expects to see a drop in sales.

P&G brings back it's Charmin promotional bathrooms for a third year, complete with flat-screen televisions and bathroom attendants.

GM and Tiger Woods mutually ended the golf star's nine-year endorsement deal, due to Wood's increased interest in personal time and the automaker's budget-focused mindset.

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