There is a considerable percentage of customers who turn to a company's products only because they have coupons for them. It also helps to give customers an incentive to stay longer with the company and the company has more to offer to its existing customers.ġ. Stronger bond with existing customers: Coupons provided to existing customers provide the company the opportunity to create a stronger bond with these customers. New Customers: Discount coupons provided to people who have never tried this company’s product may give it a try and if the product offered is impressive, it may turn this new customer to a loyal customer to this company.ģ. Market Area Expansion: Discount coupons, if used properly assist in expanding or increasing the market area as customers look forward to redeeming their coupons even if they have to travel a significant distance for it.Ģ. The company needs to choose which coupon-category will suit its product portfolio the best depending on the money it is willing to spend and the product offerings.ġ.
#Typesy discount code free
Loyalty coupons- These coupons are exclusively for loyal customers to a company or a brand.ĭiscount coupon for all the above categories ranges from free to thousands. New Customer Coupons- These coupons offer a discount to new customers to a brandĦ.
Buy-one-get-one coupons- These coupons provide an item free on a purchase of one item.Įxample, buy a bar of soap and get another soap free.ĥ.
Complementary service discount coupons- Example, buy an air-conditioner and get fitting and installation for free.Ĥ. Discount on minimum purchase- For example, Rs.200 off on shopping of Rs.1000 or more at a grocery retail store.ģ. For example, a coupon for 10% off on next flight booking on an online flight booking website.Ģ. Discount-Percent Discount Coupons- These provide a discount on the retail price of the product or service. The most common types of discount coupons are as follows-ġ. Marketers use it to observe the responsiveness of customers towards particular offers and discounts which, in turn, help them in their product pricing strategies for the existing or the upcoming products. This data is then analyzed to observe the effectiveness of the coupons, the sales pattern, consumer purchasing behavior, etc. Discount coupons are also easy to track in terms of what percentage of total coupons are being redeemed, who redeemed them, what products those coupons are being used for etc. They not only attract new customers to try their product but also urge to buy in more quantity than a customer usually buys. Discount coupons are a very effective way to increase the sales of physical stores or online stores.
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