Discount Program - Promotional Marketing Tool #3
Discounting is motivating the purchase of a product or service by temporarily lowering the price to distributors, the trade, and/or consumers. You have to consider how much to discount your products, when, how, and, perhaps most important, how to protect your brand's quality image?
Advantages:
- Lower Business Costs
- Increase Purchasing Power
- Improve Goodwill
- Higher Consumer Sales
Disadvantages:
- The perception of your business’s quality suffers
- Dropping your prices can lead to a price war
- Dropping your prices kills your profit margins
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