Price Promotions in Market

Qingqing Hu ()
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Qingqing Hu: Hangzhou Foreign Language School

A chapter in Proceedings of the 3rd International Conference on Economic Development and Business Culture (ICEDBC 2023), 2024, pp 120-126 from Springer

Abstract: Abstract In everyday life, businesses use a variety of methods to maximize their benefits. Consumers can also use a variety of channels to learn about the best purchase options that will allow them to reduce the exchange of benefits. In this case, price promotions are one of the sales tools that are often used. People walking around may encounter the wording of price promotions, for example, two hundred off fifty, trade-in, and so on. But why do producers use price promotions as a sales tool? What are the types of price promotions? What is the relationship between the producer and the consumer that price promotions give? What are the factors that affect price promotions themselves? This paper will examine and organize the above questions and illustrate the link between price promotions and consumers’ desire to buy, sensitivity and brand loyalty. In this study, we can conclude that there is a negative relationship between price promotions and consumer brand loyalty. Moreover, we can learn that consumer demand, competition among brands and company budget can influence the setting of price promotions in different ways and from different perspectives.

Keywords: consumer’s intention; loyalty; demand; competition; budget; coupon; types of price promotion (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-246-0_14

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DOI: 10.2991/978-94-6463-246-0_14

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