One of the days and access to information was a privileged activity. Today, people can access all the information that they need at the palm of their hands by just swiping on their screens on the smart phones they own, laptops or even tablets. All you need to access all this information is a device that can connect to the Internet, and an Internet connection. Wherever it is that you will go to the earth today, you are likely to find an Internet connection because of how it has become widespread especially in the recent past. Speeds and the strength of the Internet might vary depending on where you are, but you will find an Internet connection regardless of where you go. However, it is not everyone who is happy with the progress that has been made in terms of access to information. Some of the people who might be unhappy with the progress that has been made in terms of access to information are the managers will run companies that produce physical goods or provide specific services. Product and service information are some of the examples of information that people might have access to. When individual people can access information regarding products and services that they use, the competition that exists between the company is responsible for producing these goods and services escalates. As a consequence, managers are charged with the responsibility of finding ways of still gaining competitive advantage and remaining the dominant brand in the market, through new, innovative and extremely creative strategies. As a means of gaining the attention of customers and prospective customers, a lot of managers have decided to use discounts as a strategy. Discounts can be very different types such as percentage discounts and rebates. In this article, we shall seek to shed light on the advantages that come with using rebates as a form of discounts.
The first advantage of using rebates is that it encourages customer loyalty. The reason the management teams of companies might want to encourage customer loyalty is because it saves them money when it comes to advertising. This is because the loyal customers will do word-of-mouth advertising and end up attracting new customers to the brand.
When it comes to attracting prospective customers, rebates have been proven time and time again to be very effective. Everyone enjoys a discount, and when given to prospective customers, it gives them a reason to move from the brand they are currently using to your brand.