Discount Definition and Explanation PDF Download
Learn Discount definition in marketing with explanation to study “What is Discount”. Study discount explanation with marketing terms to review marketing course for online MBA programs.
A straight reduction in price on purchases during a stated period of time or of larger quantities.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
It is a pricing strategy which leverages customers to provide goods in low prices. The strategy is useful for driving traffic and it can also be used as sales short term strategy. However, it has negative effects on brand position. There are various ways to offer discounts to customers, it could be; offer few but bigger discounts to customer, highlighting product in the market, discounts for loyal customers, and right time for the discount on products.
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