MANAGEMENT

Detailed explanation-1: -Another very popular sales promotion for consumers is a premium. A premium is something you get either for free or for a small shipping and handling charge with your proof of purchase (sales receipt or part of package).

Detailed explanation-2: -Premium pricing is a marketing strategy that involves tactically setting the price of a particular product higher than either a more basic version of that product or versus the competition. The purpose of premium pricing is to convey higher quality or desirability than other options.

Detailed explanation-3: -Consumer sales promotions are short-term techniques designed to achieve short-term objectives, such as to stimulate a purchase, encourage store traffic or simply to build excitement for a product or brand. Traditional sales promotions techniques include: Price deal: A temporary reduction in the price, such as 50% off.