Description:

Discounts and promotion models play a critical role in pricing strategies, serving as powerful tools to drive sales, attract new customers, and increase market share. They can create a sense of urgency and stimulate immediate purchases, which is particularly useful for clearing inventory or responding to competitive pressures. When strategically planned, discounts and promotions can enhance customer loyalty by providing perceived value and rewards. However, it is essential to manage them carefully to avoid diminishing the perceived value of the product or service and to ensure they do not negatively impact long-term profitability. 

Modules covered under Communicating price and value
70843 Understanding Pricing Models
70844 Communicating Price and Value
70845 Discounts and Promotions
70846 Negotiating Price
70847 Psychological Pricing Tactics