Revenue
Promotional Pricing
Definition of
Promotional pricing is a marketing strategy used by businesses to temporarily lower the price of their products or services in order to stimulate sales and attract new customers. It is a way to create a sense of urgency and encourage customers to make a purchase before the promotion ends. For example, a clothing store might offer a "Buy One, Get One 50% Off" promotion on a specific collection of items. A restaurant might have a "Happy Hour" promotion with discounted prices on drinks and appetizers. An online retailer might offer a limited-time discount code for a percentage off the total purchase. Promotional pricing can be an effective way to increase sales and create buzz around a product or service. However, it is important for businesses to ensure that their promotions are sustainable and don't negatively impact their profit margins in the long run.
