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During the off season, the Rues Hotel offers a 25% discount on its rooms to attract guests. The Rues Hotel is demonstrating the c. use of price as a promotional tool .
- A sales tactic known as promotional pricing involves brands temporarily lowering the price of a good or service in order to draw potential clients and buyers.
- A brand can artificially raise the value of a good or service by temporarily decreasing the price and fostering a sense of scarcity.
- Buy one, get one free, seasonal sales promotions, discounts, and flash sales are some of the most popular promotional pricing models.
- You may also want to take into account multi-buys, loyalty programs, conditional offers, free delivery, or gifts depending on your individual price targets and business strategy.
What is the purpose of promotional pricing?
- Promotional pricing is a technique for increasing consumer interest in particular goods or services that people or companies offer to the general public.
- This is accomplished by using a promotional price tag, which entitles a customer to full access to a good or service for less money than it would normally cost.
Learn more about promotional pricing
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