Discounts and incentives can serve multiple strategic purposes:
- Boost Sales Volume: Offering discounts can encourage customers to buy more, thereby increasing the overall sales volume. - Clear Inventory: They can help in moving old or excess inventory quickly. - Attract New Customers: Discounts can attract new customers who may be hesitant to try a new brand at full price. - Build Customer Loyalty: Incentives, like loyalty programs, can encourage repeat business.