08 / February / 2023 : 14-12
Creating Urgency: The Pros and Cons of Limited-Time Offers
Creating a sense of urgency with limited-time offers is a popular marketing strategy used by businesses to encourage customers to make a purchase or take action quickly. Limited-time offers are promotions that have a specific start and end date, usually with a discount or some other incentive that is only available during the promotion period. This creates a sense of urgency in customers, making them more likely to take advantage of the offer before it expires.
The pros of using limited-time offers include increased sales and revenue, the ability to clear out excess inventory, and the creation of a sense of excitement and urgency around a product or service. Limited-time offers can also encourage customers who may have been on the fence about making a purchase to finally take action.
However, there are also some potential drawbacks to using limited-time offers. For one, customers may begin to expect these types of promotions regularly, which could devalue the product or service being offered. Additionally, if the promotion is not well-planned, it could end up cutting into profits or cannibalizing sales from other products or services.
Overall, using limited-time offers can be an effective marketing strategy for businesses looking to drive sales and create a sense of urgency among customers. However, it's important to carefully consider the pros and cons of this approach and make sure that it aligns with the business's overall goals and objectives.
Published on 08 / February / 2023 : 14-12
Published by
Liana Aloyan
Journalist, columnist. Liana studies at the Faculty of Russian Philology of Khachatur Abovyan State University. She has been working at Yelaket (Yelaket.am) news agency since 2019 as a journalist and columnist. Writes articles about business and marketing. Liana is a member of "Media association" since 2020.
Viewed
1150times
Recommended
21 / February / 2020
Where Do The Richest Americans Live?
Have you checked the newest "Forbes 400: The Full List of The Richest People in America" yet?
Surprise, Bill Gates, with a net worth of $81 billion, is ranked No. 1 for the 23rd year running....
17 / June / 2021
Gold loses its shine as Fed hints at rate hikes
The Federal Reserve surprised the market Wednesday with projections that future interest rate hikes will come a bit sooner than expected. Gold bugs in particular were disappointed.The price of gold...
17 / June / 2021
Jobless claims unexpectedly rose last week
Claims for unemployment benefits rose unexpectedly last week, marking the first increase in initial claims since late April.Another 412,000 workers filed for first-time benefits in the week ended...
16 / July / 2021
Abu Dhabi’s maritime sector strategy shifts to diversification, less reliance on oil
“No one is safe, unless everyone is safe” is the thinking behind herculean efforts to immunise the world against Covid-19.Abu Dhabi, capital of the United Arab Emirates (UAE) and a strategic hub...
15 / February / 2022
Ameriabank is the first in Armenia to place green bonds via public offering
Ameriabank announced today public placement of nominal, coupon, book-entry bonds with the total volume of USD 8 million and AMD 3 billion during the period from February 14 to April 22, 2022,...
22 / February / 2022
Ameriabank receives another IFC award in trade-finance sector
Ameriabank CJSC has been named the Best Issuing Bank in the Caucasus for 2021 by International Financial Corporation (IFC), a member of the World Bank Group, in the 10th annual award ceremony in...
02 / March / 2022
Global Finance Names Ameriabank “Best Investment Bank” in Armenia
Global Finance reputable magazine has published the list of winners of the World’s Best Investment Banks 2022 Award, naming Ameriabank the “Best Investment Bank in Armenia” for the seventh year in...
31 / March / 2022
Ameriabank’s ‘Live Armenian,’ ‘Live with a Smile,’ ‘Live Limitless’ promotional draws’ winners...
Ameriabank on Wednesday summed up the promotional draws “Live Armenian”, “Live with a Smile” and “Live Limitless” and announced the results.From December 9, 2021 to March 9, 2022, the Bank offered...