Hey Stephen, I stumbled upon your channel yesterday and I've been watching a lot and Learning A LOT!! Thank you so much for sharing such valuable information with us! I'm an identity designer in trasition to include brand strategy to bring more value to my clients. Just one thing, I tried to download your book but it seems whatever email I submit I never get an email from you :(
@@BrandMasterAcademy Hey Stephen, thank you so much for the link. The book is super helpful and rich in insights. I would've loved to enroll for the Brand Master Secrets. I'm super dedicated and serious about learning Brand strategy but at this point of time I'm struggling with and barely pay my rent.. In the future, I'll definitely enroll to your program. Thanks Stephen! Kind regards, Reda
6 Promotional Pricing Examples & Types (For Discounts & Sales) Promotional pricing is a strategy used by brands that want to drive short-term sales. They do this by temporarily reducing the price of products or services to entice customers to buy before the offer expires, often through integrated marketing campaigns. PSYCHOLOGY OF PRICE PROMOTIONS Value perception Price perception Brand perception Promotion expectations and promotion expectation Brand loyalty FOMO Gratification of purchase success. 1. Sale price - Sale offering a by dollar value or sale by percentage of value. EX: Even tho it mostly affects them subconsciously, it still impacts many things like 25% OFF OR 25 DOLLARS OFF. It's relative to the original price. 2. 2 for 1 - Having a second item for the original price or be used as an entertainment value with two tickets at a price of one. 3. Bulk buy promotion - Purchasing higher volumes to reduce the average cost: 3 for the price of 4 or 50% off the second item. 4. Flash sales and limited numbers - Encourage urgency and scarcity by using limited-time or product sales. Promotes community exclusivity and incentivizes non members to join in. 5. Loyalty incentive - Offers an exclusive offer only available to them as a reward for their loyalty. 6. Seasonal promotion - Deep discounts for a certain period of time. FIND THE RIGHT TIMING FOR A SALE TO PREVENT THEM GETTING USED TO IT, ONLY USE SALES AND DISCOUNTS IN A WAY BRAND EQUITY WILL STILL BE ATTACHED AND BOOST PROFIT.
