For the last few years, several retail stores, museums, and parks have been offering discounts to students who shop using their school IDs (Batra 566). Student discounts have been of benefit to both students and corporations.
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Through the initiatives, students have been able to lessen the cost of spending (Batra 567). By offering student discounts, businesses have been able to draw more customers and enhance their reputation. Stores that offer student discounts are likely to attract the attention of teenagers. In the article, the benefits of student discounts to corporations are analyzed.
When a business offers student discounts, they begin to create a long-lasting loyalty with future clients (Zeidler 59). It is a fact that students will join the corporate world once they complete their studies. By offering them student discounts, corporations can win their loyalty.
Thus, the teenagers will shop from them even after completing their studies. In this regard, corporations that want to increase their customer base in the future should consider offering students discounts because they are their potential clients.
Through the strategy, corporations can attract more customers (Bhattacharyya 192). Student discounts will attract several students to buy from corporations. Through this, the corporations’ sales will increase. Equally, the initiative can attract students’ parents to buy from their stores.
Parents would like to shop in stores that value their children. Similarly, parents would like to shop in such stores as a way of expressing their gratitude. Based on the above illustrations, it is apparent that student discounts attract more customers.
With increased customers, corporations will augment their sales. An increase in sales will be realized on all the goods. Because student discounts can attract more students and their guardians, corporations will be able to gain several potential customers.
Notably, the clients will be interested not only in students’ items or discounted goods but also in all other goods and services offered by the corporations. By doing so, the corporations’ sales will increase significantly, unlike before the discounts.
Like any other corporation offering sale discounts, a business that provides student discounts will have a chance of enhancing its reputation.
Whenever a corporation offers a discount to individuals in need like the elderly, the homeless, and students, it illustrates that it is ready to make the world a better place. Usually, the public believes that corporations are money-hungry organizations. Therefore, any deviation from the norm will enhance the corporation’s reputation.
Similarly, through student discounts, corporations can be able to free up room in their shops. Sometimes, stores may be filled with goods they do not want to sell anymore. To increase the chances of selling these goods, corporations should offer student discounts on goods. By doing so, the goods will be purchased by the students in large numbers freeing up the store’s space.
Lastly, student discounts can enable corporations to meet their target goals. As such, corporations set their monthly, quarterly, and annual sales objectives. When corporations predict that they would not meet their objectives, they usually offer their clients discounts to increase their sales.
Through this approach, student discounts will come in handy, as they will enable the corporations to exceed the intended sales figures. Based on the above illustrations, it is apparent that student discounts are more helpful to corporations than they are to students.
Batra, Satish. Advertising, sales and promotion management. Rev. ed. Mumbai Himalaya Pub. House, 2008. Print.
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Bhattacharyya, Hrishikes. Working capital management: strategies and techniques. New Delhi: Prentice-Hall of India, 2004. Print.
Zeidler, Christian. Mobile support in customer loyalty management an architectural framework. Wiesbaden: Gabler Edition Wissenschaft, 2009. Print.