What is Price discounts
Discounts may take different forms in the product markets like the following:
Marketers or companies offer a price reduction to buyers who pay bills promptly.
Marketers offers a price reduction to buyers who purchase a large volume of products.
Seasonal price reduction is given to buyers who take the opportunities to buy products or services at a particular season or a period of time.
What is promotional pricing?
Promotional pricing is offered by companies or marketers in order to increase traffic and promote sales volume of products.
Promotional pricing include the following:
Pricing for special event
Marketers determines special prices for a particular season to attract customers.
Companies or marketers offers cash rebates to consumers for purchasing products within a specified period of time.
Products at reduced price
Many big superstores or departmental stores offer products to consumers at reduced price in order to attract consumers and stimulate sales.
It indicates that the price discounts and the promotional pricing are two strategically important tools used by the marketers or companies to draw traffic and stimulate buys by the consumers in the competitive markets. The consumers can also facilitate their marketing objectives by taking advantages of these price discounts and promotional pricing, as and when necessary.