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A form of sales promotion that rewards customers for consistently purchasing a company;s product is

Marketing
WAEC 2023

A form of sales promotion that rewards customers for consistently purchasing a company;s product is

  • A. sales contest
  • B. quantity discount
  • C. loyalty scheme
  • D. promotional allowance
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Correct Answer: Option C
Explanation

A form of sales promotion that rewards customers for consistently purchasing a company's product is a loyalty scheme. A loyalty scheme, also known as a customer loyalty program or rewards program, is designed to incentivize and reward customers for their continued loyalty and repeated purchases. Customers who participate in a loyalty scheme earn points, rewards, or other benefits based on their purchases or other predefined criteria. These rewards can include discounts, free products, exclusive offers, access to special events, or other incentives. By implementing a loyalty scheme, businesses aim to foster customer loyalty, increase customer retention, and encourage repeat purchases, ultimately strengthening the relationship between the customer and the company.


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709