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The reduction in the price of a product for a short span of time is known as ___________

  • The reduction in the price of a product for a short span of time is known as Price off offer.
  • A price off offer is a type of sales promotion that involves reducing the price of a product for a limited time.
  • The idea is to encourage customers to make a purchase by offering a temporary discount on the product.
  • The discount can be a percentage off the regular price or a fixed amount and is often applied at the point of sale.
  • Price-off offers can be very effective in increasing sales and driving traffic to a store.
  • They are often used to clear out inventory, to attract new customers, or to increase sales during slow periods.
  • By offering a temporary discount, businesses can create a sense of urgency and encourage customers to make a purchase, either immediately or within a specific time frame.
  • Price off offers can be combined with other sales promotion techniques, such as coupons and rebates, to create a more comprehensive and effective promotion.
  • For example, a business might offer a price off on a product, as well as a coupon for a future purchase, to encourage customers to try the product and come back for more.
  • Overall, the goal of a price off offer is to increase sales, build brand awareness, and create customer loyalty.