Redeem

Posted in Marketing and Strategy Terms, Total Reads: 445
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Definition: Redeem

Redeem can be explained as an exchange of the advertised gifts or rewards with the coupon or the promoted product which is given back by the consumer. Such coupons are majorly used on online e-commerce websites like Flipkart, Myntra, Jabong etc. where customers are given vouchers which can be redeemed by shopping for a minimum amount. This way even by offering a Rs.1500 off on shopping worth Rs. 5000, companies can ensure people to make a net Rs. 3500 purchase which they may not have considered earlier.


 

This coupon attracts customers with a 10 % discount and the expiry date included ensures that customer takes a quick decision and buys fast.

 

Search & Explore : Management Dictionary

Browse the definition and meaning of more terms similar to Redeem. The Management Dictionary covers over 7000 business concepts from 6 categories.

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