ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Incentive is any promotional offer that aims to influence customers to purchase goods or services. Usually, incentives take a form of discount coupons, cart promotions, free shipping offers or bonus items.

Detailed explanation-2: -A coupon (also promo code or voucher) is a single code that represents a discount. In the online shopping context, a coupon code is a string of computer-generated letters and numbers that a customer can enter at the checkout to receive a discount or another effect (e.g., free shipping or a bonus item).

Detailed explanation-3: -Loyalty discounts-discounts for frequent customers. Trade discounts-discounts for trading in a similar product. Cash discounts-discounts for paying in cash instead of credit. Quantity discounts-discounts that encourage purchasing more of one product.

Detailed explanation-4: -Coupon advertising, or coupon marketing, is a marketing channel where (potential) customers are given discounts or rebates on their purchases. Most often, these discounts are a fixed amount of money or a percentage discount. But special coupons, like free shipping or an additional free product, are possible, too.