Hello there!!
Just like any other time of the year, businesses are rolling out their marketing campaigns in an effort to convince you that they deserve your money. Special sales and promotions will be rampant in the market place. Since summer is here, businesses will be attempting to get you to purchase anything from sunscreen to beach accessories to swimwear and beyond. One overall popular strategy is what I like to refer to as an additional purchase promotion (APP). A perfect example of an APP is “buy-one-get-one”, or more commonly known as BOGO. Another one known to almost all of us is “buy-one-get-one at half price.” All APPS are designed not just to persuade you to make a purchase, but to persuade you to buy more.
If the APP refers to a product which you always use or need, this may be a great deal for you. If you can purchase an item such as over-the-counter medication, vitamins, and grocery items and pay the same price for two of half price for the second item, that certainly is helpful on your wallet. However, there are a couple of things of which you should be aware. One, like all other promotions, the intent is to persuade you to make purchases, including impulse buying. If you are buying the items or services strictly because they are on sale, then the promotion is not a good deal for you. You just purchased items that you really didn’t need, or want, because there was a “sale.” Also, these type of marketing tools are often used to sell the product quickly. If the business has items that have not sold, these APPs are used to entice customers to buy so the business does not have to discard the item or discount the price so much that money is actually lost on the sale. If the APP is for an item that carries an expiration date, be sure to check the expiration date before you make the purchase.
Building your wealth means controlling your money. Don’t let sales tactics get become an obstacle on your path to wealth.
Thank you for reading!
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