The Power of Promotional Pricing: Attracting Customers and Driving Sales - Edubirdie

University:
California State University, Northridge
Course:
MKT 304 | Marketing Management
Academic year:

2023
Views:

22

Pages:

2
Author:

Nirr Nirr

Promotional marketing When it comes to promotional companies assess some feasibility study in order to pick the best strategy, choose the discount in dollars and the time period for which it could be given. Some disadvantages of promotional pricing are: Customers lean towards buying the product or the service only during the discount period. This has a negative effect on the brand image despite it can increase its sales. An explanation of the benefits is: Increase customers’ traffic: Promotional pricing strategies attract customers to buy one or more than a product or service. Thanks to these strategies the most successful companies hope on occasional discounts such as: 1) 2) 3) 4) 5) 6) Black Friday Cyber Monday Christmas Any other recognized holidays Pride month discounts Black history month discounts Promotional pricing: It is basically working on how to attract customers with colors and numbers. Some tricks that actually work are: 1) Putting a giant discount poster 2) Writing “sale” in red Promotional pricing helps to: 1) Turn over stock 2) Improve cash flow in the short term. If a business needs an injection of cash to cover short-term expenses or debt commitments. To conclude: Promotional pricing is a great way to retain customers, increase their loyalty and help you understand which sales promotion ideas will work for you and how they fit with your other marketing activities such as advertising.

Related Documents

The Power of Promotional Pricing: Attracting Customers and Driving Sales

The Power of Promotional Pricing: Attracting Customers and Driving Sales - Page 1

The Power of Promotional Pricing: Attracting Customers and Driving Sales - Page 2

of 2

Recommended Documents

TOP DOCUMENT

Rural vs. Urban Markets: Consumer Behavior & Marketing

Rural vs. Urban Markets: Consumer Behavior & Marketing

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

TOP DOCUMENT

Lecture Note: Marketing Fundamentals

Lecture Note: Marketing Fundamentals

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Analysis Presentation: Marketing Margins And Costs

Analysis Presentation: Marketing Margins And Costs

California State University, Northridge MKT 304 | Marketing Management

Assignment

Analysis Presentation: Risk Management In Agricultural Product Marketing

Analysis Presentation: Risk Management In Agricultural Product Marketing

California State University, Northridge MKT 304 | Marketing Management

Assignment

Analysis Presentation Agricultural Product Marketing Channels

Analysis Presentation Agricultural Product Marketing Channels

California State University, Northridge MKT 304 | Marketing Management

Assignment

Marketing Notes: Defining Marketing: Perspectives and Key Concepts

Marketing Notes: Defining Marketing: Perspectives and Key Concepts

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Marketing Notes: Consumer Behavior

Marketing Notes: Consumer Behavior

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

MAR4613 Module 1 Quiz

MAR4613 Module 1 Quiz

California State University, Northridge MKT 304 | Marketing Management

Study Guide

MAR4613 Chapter 5 Notes

MAR4613 Chapter 5 Notes

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Marketing Notes: Marketing Ethics and Social Responsibility

Marketing Notes: Marketing Ethics and Social Responsibility

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Essentials of Social Marketing Management Process

Essentials of Social Marketing Management Process

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Rural Market Promotion & Distribution

Rural Market Promotion & Distribution

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

New Documents from this Course

Product Development and Life Cycle

Product Development and Life Cycle

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Competitive Advantage Analysis for Microsoft and Apple

Competitive Advantage Analysis for Microsoft and Apple

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Marketing notes: Embracing the Digital Economy: Exploring B2B and B2C Digital Marketing Strategies and Tools

Marketing notes: Embracing the Digital Economy: Exploring B2B and B2C Digital Marketing Strategies and Tools

California State University, Northridge MKT 304 | Marketing Management

Lecture Note

Analysis Presentation: Marketing Strategy For Agricultural Products

Analysis Presentation: Marketing Strategy For Agricultural Products

California State University, Northridge MKT 304 | Marketing Management

Assignment

Analysis Presentation: Behavioral Structure And Market Performance

Analysis Presentation: Behavioral Structure And Market Performance

California State University, Northridge MKT 304 | Marketing Management

Assignment

Analysis Presentation: Market And Physical Risks Of Agricultural Products

Analysis Presentation: Market And Physical Risks Of Agricultural Products

California State University, Northridge MKT 304 | Marketing Management

Assignment