What are the key elements of a successful discount strategy?
A successful discount strategy includes understanding your target audience, setting clear goals, and analyzing competitors.
How do I determine the right discount percentage?
Consider your profit margins, customer expectations, and the perceived value of your product when setting discount percentages.
What types of discounts work best for attracting new customers?
Percentage-off discounts, buy-one-get-one-free offers, and limited-time promotions are effective for attracting new customers.
How can I measure the success of my discount strategy?
Track sales data, customer acquisition rates, and overall profit margins before and after implementing the discounts.
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