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In marketing, a rebate is a form of buying discount and is an amount paid by way of reduction, return, or refund that is paid retrospectively. It is a type of sales promotion that marketers use primarily as incentives or supplements to product sales. Rebates are also used as a means of enticing price-sensitive consumers into purchasing a product.
Traditional sales promotions techniques include: Price deal: A temporary reduction in the price, such as 50% off. Loyal Reward Program: Consumers collect points, miles, or credits for purchases and redeem them for rewards. Cents-off deal: Offers a brand at a lower price. The price reduction may be a percentage marked on the package.