Chapter 11, Problem 14AA

To determine

To state: Examples of goods promotion.

Answer to Problem 14AA

Coupon code, flash sale or buy 1 get 1 are some examples of how goods and services can be promoted.

Explanation of Solution

Promotional coupons and discounts are a great way to increase the number of customers as such types of offers attract a lot of consumers thereby leading to increase in sales. This approach is mostly used when the company has large stock of goods and they want to sell it to make space for new stock.

A flash sale is a tool that offers some sort of savings but only for a short period of time. A good flash sale increases sales.

Economics Concept Introduction

Introduction: Promotion is an activity directed by the businesses to notify the customers about the products in the market to encourage the development of their product or service i.e. to increase the market base of the product or service.