Let’s begin by classifying various recipients so that depending on their role and profile the budget can be decided. The budget helps in shortlisting the various product choices available to get the maximum mileage keeping end objective in mind.
- Employees and
- Business associates
CONSUMERS: – The correct definition of the consumer is the actual user or end consumer of your product or services. Since the lifetime value of a consumer is very high most of the brands are willing to invest high budget to influence and acquire new users. Offer something they cannot refuse and, in the process, end up trying your new product and hopefully, you have acquired another new consumer.
CUSTOMERS: – The difference between the consumer and customer is that while consumer is the end user the customer is the person who is buying the product on behalf of the consumer. A branded soap buying another branded pen is customer but not the consumer or end user.
PARTNERS: – Trade partners and agents who helps you in reaching your end objectives of increased sales and market share. The end objective keeps changing with times either to increase the sales, market share or stocks in the pipeline to block the new product or competitors.
INFLUENCERS: – In case of lubricants the influencer is the mechanic and there can be multiple influencers. For example, masons are the first influencers for a cement manufacturing company whereas the engineers and then architects are next as technically qualified to differentiate.
EMPLOYEES: – Traditionally companies have given festival and yearly gifts to staff depending on the industry, margins and set practices. Depending on the success at the marketplace and completion of years of service from time to time various gifts are given to employees. IT companies due to their younger knowledge workers have preferred to continually excite them with various gifts starting from induction to completion of every projects.
BUSINESS ASSOCIATES: – Business associates are your well-wishers, consultants, referral partners and friends. Normally they are divided into A, B and C categories to justify the budget and identify the appropriate gift for each level depending on the seniority of the receivers.
During festival times and new year even, regular visitors expect and ask for the diaries, calendars, and various other utility gifts.