ALL >> Business >> View Article
Different Types Of Discounts You Can Offer To Your Customers
What are the two most attractive words, you can use in your advertisement to lure customers? Answer is Discount and Free, and although Free can pull much larger crowds as compared to Discount, you can't really offer your products for free. Therefore, discount is a more practical, sensible and smart option to use. Different types of discounts and sales are very effective to curb the competition. It can also provide a good boost to your sales in the time of recession, when people are looking to save on every deal. However, offering discount on your products will obviously reduce the inflow of cash, therefore you need to chew over your discount strategy over and over, keeping in mind all costs and expenditures. In addition to this, there are some laws in developed countries that impose some restrictions on discounts; you need to confirm to these regulations as well.
Here are some of the discounts you can offer to your customers.
Quantity Based Discount:
You must have noticed a huge difference between wholesale and retail price. Whenever you buy something in large quantities you expect some discount from the ...
... seller. People are more than happy to offer low prices to a buyer who will purchase in large quantities because it allows the seller to save in many ways. But normally these quantities are too large for a normal consumer and only businesses can afford to purchase a product in these quantities, however you can offer some sort of off-price if the customer buy more than one units, for example 5% off if someone purchases 10 units or more.
Payment Based Discount:
If majority of your customers make purchase on credit then you can offer payment based discounts to these customers, tempting them to pay as soon as possible by offering a small discount on paying cash without delay. Prompt payments will save you all those collection costs and help you with daily expenditures of the business, as well.
Trade Discounts:
These are the discounts you have to offer to the middleman, be it the wholesaler, retailer or distributor, so that they can cover all costs of marketing that may be needed before the product reaches to the ultimate consumer. Trade discounts are in fact, the biggest of all.
Special Discount:
In some cases you can offer discounts to some specific group of customers to capture that special segment of the market. This niche group can be of students, house wives, doctors, your previous customers, small business owners or any other strategically targeted group.
William King is the director of UK Wholesale Suppliers, Distributors, Dropshippers & Manufacturers: http://www.wholesalepages.co.uk , Wholesale Trade Suppliers, Dropshippers, Distributors & Manufacturers:http://www.dailytrader.com and Germany Wholesale Suppliers, Distributors, Dropshippers & Manufacturers: http://www.dailytrader.com/germany/ . He has 18 years of experience in the marketing and trading industries and has been helping retailers, entrepreneurs and startups with their product sourcing, promotion, marketing and supply chain requirements.
discount, customers, sale, price, off, quantity, payment
Add Comment
Business Articles
1. Finding A Trusted Sustainability Consultant In Abu DhabiAuthor: Agile Advisors
2. Iso Certification In Dubai – Advantages For Business
Author: Agile Advisors
3. Best Forex Brokers List | Best Broker For Forex Trading 2024
Author: Top Forex Brokers Review
4. Celebrate Achievements With Customized, High-quality Awards From Trophy Deals
Author: Trophy Deals
5. Is 100% Company Ownership Possible For Expats In Saudi Arabia?
Author: jodonjo
6. We Are Hiring: Senior Executive - Indirect Taxation In Gurgaon!
Author: tanvir Khan
7. Ceratec Tower 1o8: The Eventual Fate Of Business Greatness In Balewadi, Pune
Author: Tarun
8. Enrofloxacin Manufacturer: Swisschemie
Author: Swisschemie
9. Ultimate Guide To Hotels In Mussoorie: Discover The Best Places To Stay, Including Hr Hotels And Resorts
Author: Hr Hotels and Resort
10. How Quickly Do Fast Cash Loans Online Pay Out Cash On The Same Day?
Author: Lucy Lloyd
11. Leading Digital Marketing Agency In Hyderabad And Unlock Your Brand’s Potential With Sanbrains Agency
Author: Sanbrains Seo
12. Celebrate Success With Customized Awards From Trophy Deals
Author: Trophy Deals
13. Title: Choosing The Right Humidity Stability Chamber Supplier For Your Manufacturing Needs
Author: bio gene
14. Complete Guide To Studying Mbbs In Poland
Author: Mbbs Blog
15. What Is The Process For Locating The Best Lender For Short Term Loans Online?
Author: Robert Miller