Can you use gift cards to measure brand strength?
Forgive my Sunday night 'shower thought' questions haha
Last night I asked my wife if she'd prefer a $100 gift card to The Cheesecake Factory (they're building one by our house) or $70 cash. She chose the cash.
I tried again. Would she choose a $100 Amazon gift card or $90 cash? She chose the gift card.
Interesting.
The reason I changed the $70 to $90 is because first, I know that the value of those gift cards is different just in how they're used. You can add Amazon credit to your account and not worry about losing the card, forgetting to use it, or having it expire (which have all happened to us).
I also know that my wife is always buying on Amazon, and doesn't go to The Cheesecake Factory that often, so potentially this could be a better proxy for buyer intent, rather than brand strength.
But if I could isolate those specific gift card variables and keep them consistent, I think that I could get a good idea of how one brand stacks up against the competition.
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Kyle Rutledge
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Can you use gift cards to measure brand strength?
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