Business Studies – 3.3.4 Promotion | e-Consult
3.3.4 Promotion (1 questions)
Login to see all questions.
Click on a question to view the answer
Recommended Method: Offer a 'Percentage Discount' sale on winter coats.
Justification:
- Directly Addresses the Goal: A percentage discount directly encourages customers to purchase the remaining stock, helping to clear inventory.
- Clear and Compelling: A percentage discount is easily understood and presents a clear financial benefit to the customer.
- Creates a Sense of Urgency: A sale often implies a limited-time opportunity, encouraging customers to make a purchase before the stock is gone.
- Attracts Price-Sensitive Customers: Discounts are particularly effective at attracting customers who are looking for a bargain.
- Easy to Implement: Implementing a percentage discount is relatively straightforward and can be applied across all winter coat stock.
Other options considered (and why they are less suitable):
- Free gifts with purchase: Less effective for clearing out specific stock; may not directly encourage purchase of the coats themselves.
- Competitions: Unlikely to directly impact the sale of existing stock.
- Point-of-sale displays: Helpful, but a discount is needed to motivate customers to buy.