Question

What is discount and types of its according marketing?

Answer 1

In simple terms, Discount is an allowance or concession in price. Discount is given so that the buyer is induced (lured) to place an order and later to make payment in time.

Discount can be also referred to as a deduction in price. The seller deducts the discount from the gross or total price, and the buyer is supposed to pay the net amount.

There are Three Types of Discount; Trade discount, Quantity discount, and. Cash discount.

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