Wednesday, April 13, 2011
28 Million Dollar Debt Could Increase Sharper Image's Image
Sharper Image, a former electronics company, went bankrupt in 2008. It was sold to a group of investors and now goes by TSIC Inc. However, the "Sharper Image" brand is still being marketed. Sharper Image is now trying to get a bankruptcy court to allow them to spend $60,000 in marketing fees to find its former gift card holders. After a law suit by one of them, they want to reimburse the customers with up to $2,245. A lot of customers have probably given up on getting their money back, and this might be a nice surprise. It will probably give Sharper Image really good publicity, and any product that still uses the Sharper Image brand could possibly benefit. It could also give consumers more money to spend on other products.
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6 comments:
I think that since Sharper Image is trying so hard to repay their customers, those customers will buy from this store again if they get back on their feet. I agree, this would be very good for their publicity. But could this publicity also benefit the company that bought out Sharper Image, TSIC Inc.?
How is this in anyway shape or form publicity, if anything all this will tell the masses is that Sharper Image or what is now TSIC is making little to no money still. I mean its great that they're trying to claw their way back up but they really have to do something other than get their brand out there.
Often times Businesses can gain lifetime costumers. It is simple acts like reimbursing a 15 dollar gift card that may sway consumers to purchase a product at Sharper Image versus a competing company. This action will cost a large amount of money from sharper image but the money they will get back will be much greater. I do agree with Garrett, I don't think this is publicity but more costumer appreciation. Also TSIC is a silent owner and a corporation, just like YUM! Brands Inc. owns Taco Bell and Pizza Hut. They aren't separate. So when a business (Sharper Image) makes money its owner (TSIC) will benefit, and same when the business does poorly.
I agree with Brandall and Garret. This is more of TSIC customer service then for publicity. This sis so because companies do gain lifetime customers this way and also get a positive outlook on there company. By taking care of people that have lost money because of sharper images bankruptcy. This will increasing there standing with people at home.
I'm pretty sure that this won't make them any money and will more than likely cause them to lose money. I say this because they will be giving customers money and then the customers will use that money to get an equivalence in items from Sharper Image. This sounds like it would give Sharper image money, but think about how a gift card works. A customer gives a company some money for a card with that same amount on it so they can give it to someone to spend. All the people who have cards currently, already gave Sharper Image the money before they went bankrupt. So by giving people the credit back on their cards Sharper Image is basically giving out free money.
I completely agree with ALison. That would be very beneficial for the Sharper Image brand. This could also be very beneficial for the company that now owns Sharper Image. With this iscreased dredibility, they could put the Sharper Image Brand on certain products to maybe help sell them.
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