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Get Your Papers On The Process Of Promotion Or Promoting A Product
Engaging in promotional campaigns for your products are very effective when your goal is to attract new customers or reactivate former customers. This practice is very popular with businesses and according to research conducted by the journal “Marketing Science”, the promotional prices should be performed in coordination with appropriate times such as new product launches, anniversaries price or when protection strategies existing market share. At Best Essay Forum, we provide the best business plans, thesis and presentations for our clients, which are 100% Plagiarism free as our professional writers write them. Business plans, thesis and presentations are written by qualified degree holders of Bachelors, Masters and PhD. They produce your academic assignments with much attention, fulfilling the requirements.
Promotion via cash back
This promotional method requires the customer to pay the full price at the time of purchase, but then entitles him to discounts in cash or checks as soon as it reaches a certain amount of purchases. This can also lead to loyalty cards or points accumulated directly on a client account that will qualify for a voucher or special gifts. The advantages of this are numerous pricing strategy because the company has several options to reward its customers, including the option of offering cash or products.
The promotion by volumes
The promotion by volumes generally offers more products for the same price. For example, the promotional offer is “buy two shirts for 25 Euros, or pay 18 Euros for.” This encourages customers to buy more than they had expected. This type of promotion can also encourage brand switching and the other advantage is that in general competitors can quickly copy your strategy because it requires thinking for them to calibrate their best deals versus your prices while remaining profitable.
Promoting several products
Promoting several products in a single offering is one of the most popular strategies in the retail market. This is the famous “Buy one, get one free” or “Buy one, get one 50% off.” This promotional technique offers the same advantages as the promotion by volumes. Customers usually respond well to this type of pricing and this may enable the company to differentiate itself from its competitors.
The discount on a future purchase
The discount on a future purchase is a promotional technique similar to the discount mentioned above except that the discount offer will be considered at the next consumer purchase. The results of this strategy are easy to measure. Customers are familiar with this type of method and the other advantage is that it promotes customer loyalty over the long term and encourages repeat sales