GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cash discounts
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Quantity discounts
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Trade discounts
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Seasonal discounts
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Detailed explanation-1: -Discount results in the reduction of the selling price of the product, which makes it more attractive for the customer. Reduction in price makes a psychological impact on the customer which results in the purchase. The two types of discount offered are trade discount and cash discount.
Detailed explanation-2: -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-3: -Discount pricing is a promotional pricing strategy that involves reducing the original price of goods or services, often based on factors like order volume, customer loyalty, or limited timeframes. The goal of a discount pricing strategy is to increase demand, move inventory, and/or drive sales.