MANAGEMENT

Detailed explanation-1: -A rebate is a form of buying discount and is an amount paid by way of reduction, return, or refund that is paid retrospectively. It is a type of sales promotion that marketers use primarily as incentives or supplements to product sales.

Detailed explanation-2: -Sales promotion is one of the elements of the promotional mix. The primary elements in the promotional mix are advertising, personal selling, direct marketing and publicity/public relations.

Detailed explanation-3: -Samples, coupons, premiums, contests, and rebates are examples of consumer sales promotions.

Detailed explanation-4: -Example of Rebate A buyer, Mr. X, purchases a widget pricing $10, 000. When he purchases that widget, he is provided with a 5% instant rebate receipt. The widget price was $10, 000, but the 5% instant rebate costs $9, 500, and Mr.