Promotional PricingOne of the most powerful sales promotion techniques is the short-term price reduction or, as known in some areas, "on sale" pricing. Lowering a product’s selling price can have an immediate impact on demand, though marketers must exercise caution since the frequent use of this technique can lead customers to anticipate the reduction and, consequently, withhold purchase until the price reduction occurs again. As we will see in the tutorial Setting Price: Part 2, promotional pricing is also considered within the framework of the Price marketing mix component. More on of this technique is provided in that discussion.
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Types of Sales PromotionMore ResourcesKnowThis: Marketing Basics Book396 pages - Only $25
Samples of Marketing TutorialsContests and Sweepstakes Consumers are often attracted to promotions where the potential value obtained is very high. In these promotions only a few lucky consumers receive the value offered in the promotion. Two types of promotions that offer high value are contests and sweepstakes.Contests are special promotions awarding value to winners based on skills they demo |


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