What is Promotional Pricing?
Promotional pricing is a powerful sales tool, used to increase the demand for a product, particularly among price-sensitive consumers. This marketing strategy involves reducing prices by a certain percentage for a limited period, hence, positioning an item as on sale. This tactic is often employed when launching a new product line as a way to incentivise sales. Today, we'll explore promotional pricing in detail and take a closer look at its forms, benefits, and drawbacks.