Indulgent parsimony: an enduring marketing approach

Abstract

Purpose

Indulgent parsimony (IP) was originally proposed as a marketing strategy for selling to recession‐shocked consumers shopping for less costly goods and services that would still give them comfort, relief from stress, and a feeling of money well spent. Given that recession spread to many nations there is ample reason to consider applying this marketing approach for the longer term. This paper aims to investigate this issue.

Design/methodology/approach

By learning to incorporate the IP concept into their value proposition, executives can address how to implement marketing strategies that will have traction with the very large segment of consumers.

Findings

IP, a frugal but emotionally supportive standard of value, remains a timely and appropriate approach to encouraging buying.

Practical implications

By using emotional appeals that add to the value proposition, IP gives marketers a useful tool to help them design strategies and forecast what types of offerings can succeed.

Originality/value

What makes IP an effective marketing strategy is that it seeks to simultaneously trigger practical/rational and emotionally‐driven motivators.

Citation

Grossberg, K.A. (2011), "Indulgent parsimony: an enduring marketing approach", Strategy & Leadership, Vol. 39 No. 2, pp. 36-42. https://doi.org/10.1108/10878571111114455