CUSTOMER DISCOUNT Meaning and
Definition
-
A customer discount refers to a reduction or rebate in the price of a product or service that is offered to individuals who are purchasing goods or availing themselves of services from a particular business. It is a marketing strategy employed by companies to attract and retain customers by providing them with a more affordable price compared to the regular or original price.
Customer discounts can come in various forms and are often made available through promotions, coupon codes, loyalty programs, or special sales events. These discounts can be offered as a percentage off the original price, a fixed monetary amount deducted, or as additional products or services provided without charge. The purpose of customer discounts is to incentivize buyers to choose a specific business or brand by making their products or services more appealing and compelling in terms of affordability.
Customer discounts are commonly utilized within retail, e-commerce, and service-based industries. They can be used to encourage customers to make their initial purchase, to increase repeat business, or to motivate customers to become loyal and advocate for the brand. Companies offering customer discounts aim to not only attract new customers but also foster long-term relationships and boost overall customer satisfaction and loyalty.
While customer discounts may result in reduced profit margins for businesses, they can contribute to increased sales volumes, market share, and overall revenue. Additionally, customer discounts can serve as an effective tool for businesses to create a competitive advantage, differentiate themselves from rivals, and build a positive brand image in the minds of consumers.
Common Misspellings for CUSTOMER DISCOUNT
- xustomer discount
- vustomer discount
- fustomer discount
- dustomer discount
- cystomer discount
- chstomer discount
- cjstomer discount
- cistomer discount
- c8stomer discount
- c7stomer discount
- cuatomer discount
- cuztomer discount
- cuxtomer discount
- cudtomer discount
- cuetomer discount
- cuwtomer discount
- cusromer discount
- cusfomer discount
- cusgomer discount
- cusyomer discount
Etymology of CUSTOMER DISCOUNT
The word "customer" has its origin in the Middle English word "custumer" which came from the Old French word "costomer" meaning "buyer" or "purchaser". It was derived from the Medieval Latin word "custumarius" which referred to a person who pays customs or duties.
The word "discount" has its roots in the Old French word "descont" or "desconter", which meant to deduct or subtract. This came from the Latin word "discomputare" meaning "to count against" or "to deduct".
When these two terms are combined, "customer discount" refers to a deduction or reduction in price offered to a buyer or purchaser as an incentive to encourage them to make a purchase or maintain their loyalty to a business.
