ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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coupons
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premiums
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sales premiums
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loyalty cards
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Detailed explanation-1: -Premiums or giveaways are low-cost items given to consumers at a discount or for free. They are designed to increase sales by building product loyalty and attracting new customers. They can also persuade nonusers to switch brands.
Detailed explanation-2: -Another very popular sales promotion for consumers is a premium. A premium is a product or offer a consumer receives when they buy another product. Premiums may be offered free or for a small shipping and handling charge with proof of purchase (sales receipt or part of package).
Detailed explanation-3: -Premiums fall into one of two categories: free premiums which only require the purchase of the product and self-liquidating premiums which require consumers to pay all, or some, of the price of the premium. Premiums can actually enhance an image and were, in fact, the basis of of the first loyalty marketing programs.