have a positive exposure and redemption effect on customer
purchases. Mere exposure to customized coupon campaigns
contributes more than coupon redemption to campaign
returns. Consistent with theoretical expectations, customized
coupon campaigns are more effective if they provide more
discounts, are unexpected, and are positioned as specially
selected for and customized to consumer preferences. The
substantial exposure effects suggest that managers should
look beyond redemption rates and also consider sales lift
from non-redeemers when measuring the effectiveness of
customized coupon campaigns.