GENERAL KNOWLEDGE

Detailed explanation-1: -Rebates are popular with both consumers and the manufacturers that provide them. When you get a rebate, you are refunded part (or all) of the purchase price of a product after completing a form and sending it to the manufacturer with your proof of purchase.

Detailed explanation-2: -Definition. A rebate is a deal in which a supplier or vendor offers to return a portion of a customer’s purchase price if they buy a certain amount (usually of a specific product) in units or dollars.

Detailed explanation-3: -The mail-in rebate (MIR) is the most common. A MIR entitles the buyer to mail in a coupon, receipt, and barcode in order to receive a check for a particular amount, depending on the particular product, time, and often place of purchase. Rebates are offered by either the retailer or the product manufacturer.

Detailed explanation-4: -A customer rebate, as used in the ARTS ODM is a subtype of Reward that pays back a portion of the total price a customer pays for purchasing merchandise and/or services from the retailer. There are a number of different kinds of customer rebates as discussed later on.

Detailed explanation-5: -January 30, 2023 |5 min read. A rebate is a refund offered to a customer by a manufacturer, distributor or retailer when a customer makes a purchase. Sometimes referred to as a retroactive discount, rebates are often used as an incentive or marketing tactic to attract customers.