There's nothing better than a discount during tough economic times to remind people of your products. That's what the Cheesecake Factory (NASDAQ: CAKE) is doing today, by offering up $1.50 slices to their customers.
When some of our products are considered more luxuries than necessities, we need to do whatever we can during these times to keep them in the minds of consumers.
In this case, cheesecake isn't considered a necessity by most people, rather it's more of a guilty pleasure. Because it usually costs more, it's one of those products not apt to be purchased by consumers when deciding how to allocate their resources.
So to that end, taking advantage of a day like National Cheesecake day is a good excuse to market to consumers with this type of discount.
It's a no lose situation where it creates good will while reminding people of the pleasure of biting into a cheesecake. Being a cheesecake lover, just reading about the initiative keeps the idea of going out a getting a piece in my mind.
We'll need to continue to do these types of marketing efforts for the next couple years, as people will always second guess whether spending money on their wants rather than their needs is worth it.
Along with their marketing effort, it also coincides with the 30th anniversary of the Cheesecake Factory.