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Thread: Discounts: Are they Important?

  1. #1
    OMF Member
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    Discounts: Are they Important?

    In marketing Field price is what matters most after quality. If I am receiving a quality product or services the prices are usually high. And the Discounts are something everyone wants from the service providers. Discount is meant to lower the expanses for your use of a Product or service. But what if? The prices we are offered during the discount period or the amount we have to pay after applying discount is more than the real value of a particular product? It has been my experience that people and Agencies use DISCOUNT word to deceive people. It is like a glittering stone which is of no use but you try your best to get it.
    If the product is priced X and the seller is offering a discount of 30% on that particular product. After calculating we get a value Y, but when comparing Y to the prices of same product from different seller there is negligible difference But after applying 30% discount I should be getting that product for a much lower price, which happens only in some cases where the quality of product is very low by the standards or The Seller himself is trying to lure more customers and after some time the prices will be raised again equivalent to X, Which is pure deception.
    There are some cases when you see a limited time offer but that "Limited Time" offer never ends, even after several months.

    Some sellers provide you with the "exclusive only" Discounts which are redeemed using various different methods either by using any discount coupon or by referring someone else to that particular product. This seems a fair technique to me as some people who are actually putting the efforts of referring people, or trying to get a discount Coupon from a third party by doing a survey or something . These methods seems fair to me.

    What are your views about discounts?

  2. #2
    Level 3 yukon's Avatar
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    Re: Discounts: Are they Important?

    Thank you for your great article. I am also happy to giving Discount in any business purpose. Here are some of the benefits of offering discounts to your customers:

    Increase Sales
    When you offer discounts, specials or coupons, you will draw more people to your store. Increased traffic will typically lead to an increase in sales. Your customers will not only buy your discounted items; they will also look around your store and probably purchase other products.

    Improve Reputation
    Offering discounts can also help enhance the reputation of your company. If you offer discounts or coupons to senior citizens, military personnel and needy people, your business will gain recognition as a socially-responsible organization.

    Build Customer Loyalty
    Another great benefit of offering discounts is that it can help increase customer loyalty. You can gain more repeat business by giving weekly or monthly discounts or special offers, or starting a loyalty rewards program.

    Meet Sales Goals
    Most businesses have sales goals, and they need to meet those goals in order to remain profitable. If you think that your business is not going to reach its sales goals, you can try to boost sales by offering discounts.

  3. #3
    OMF Member
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    Re: Discounts: Are they Important?

    It is very much important in business to offer discount to their customers which will help in:-

    1. Increased traffic
    2. Increased sales
    3. Sales target are mostly met.
    4. Stronger client relationships.
    5. Monetized inventoy

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