To marketers, price is not only the list price or sticker price of a product, but
it’s also any adjustments to that price, such as discounts and other price-ori-
ented inducements to buy, including coupons, frequency rewards, quantity
discounts, and free samples. Any such offers adjust the price the customer
pays, with the goal of boosting sales.
Price-based inducements to buy are generally termed
sales promotions
by
marketers, just to confuse the issue hopelessly. As I delve further into this
subject in Chapter 8, you’ll also find out how to use price-based promotions
to boost your sales and attract new customers.
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