Question

Enumerate the various promotional techniques used by business firms to boost sales.

Answer 1

1. Discounts and Coupons: Price reductions and coupons to entice customers to buy products at a lower cost.
2. Samples: Providing free samples to allow customers to try a product before committing to a purchase.
3. Contests and Sweepstakes: Competitions where customers can win prizes, encouraging engagement and loyalty.
4. Loyalty Programs: Rewarding repeat customers with points, discounts, or exclusive offers to encourage continued patronage.
5. Rebates: Offering a return of part of the purchase price after the customer submits a proof of purchase.
6. Flash Sales: Limited-time offers that create urgency and encourage quick purchasing decisions.