Discount is an English term that means to reduce the price. It refers to the amount of money that is excluded with the normal selling price of some particular product. Normally discount referred to as deduction in the price of a certain good or service.
In accounting terms there are three types of discounts you an avail when purchasing an Android or IPhone online.
- Cash Discount
- Quantity Discount
- Trade Discount
Other than such types of discounts there are also seasonal discounts such as new year discounts, Christmas discounts, Black Friday offers. The most particular ones are.
- Seasonal Discounts
- Payment Method Discounts
- Social Group Discounts
- Special Day Discounts
- Coupon Discounts
We will discuss all the types of discounts one by one.
Cash Discount for Smartphones
In Cash Discount seller grants the discount on some particular service or things in terms of cash. This type of discount is a nominal discount. Normally in the balance sheet or cashbook discount income and discount expenses are recorded on the credit side and debit side respectively.
Quantity Discount for Buying Phones
Quantity Discount is the excess amount of discount it is the discount granted by the seller to the customer if the amount crosses the minimum target sales. Usually such type of discount is granted if the sales cross the minimum target. You can also use original price calculator
Quantity Discount for cell phones is included on an invoice or challan.
Trade Discount on Cell Phones
Trade Discount is deducted from the price of the goods sold. Trade Discount is normally deducted from the listings and it is also not accounted.
Seasonal Discounts
Seasonal Discounts are offered for one particular season such as most clothes brands give summer discounts, spring discounts and others.
Payment Method Discounts
Most smartphone businesses also offer the payment type discounts such as if you pay them in advance or pay in cash. The main objective behind the payment method discount is to avoid credit cards or payment by check.
Social Group Discounts
Social Group Discounts for phones are offered to some particular group of peoples such as student discounts, military discounts, elderly people discounts, and the discount to the people with disabilities.
The most common example is the HP Discount as they give discounts on their products in different programs such as HP Student Discount, HP Military Discount and others.
Special Day Discount
Special Day Discounts are offered on special days like New Year and Christmas discounts. Besides most businesses also give discounts to the peoples on Birthdays.
Coupon Discounts
Coupon Discounts for smartphones purchases are the discount given on online shopping such as the discount programs of Amazon and E-Bay. You can also avail discount if you have some special code.
Why Discount is offered?
Usually, the discount is offered for a number of different reasons, the ones are discussed below.
- Enhance the Sales
- Better Customer Relationship
- More Sales of Goods
- Old Stocks Cleared
- Improve Brand Awareness
We will discuss on all of the benefits one by one. The discount is given with an objective to improve sales. Usually the organizations offer discounts in order to improve their sales. It is a rule of nature that customers are more attracted to a good or service when it is offered at a discount. Your good or service will sell even better if it is offered at a discount. Therefore, most businesses offer a discount on short term incentives. A short amount of discount will result in long term sales of a company.
It is common-sense that if you provide credit to someone it will result in your improved relationship. Usually people love discounts and it is a great way to grab their attention. Most organizations have experienced that it results in an improved relationship with the customers when they offer discounts. Besides, smartphone businesses also want to improve loyalty with the customers and they do so upon giving discounts. Discounts improve the reputation of the business besides it also improves the quality of the brand.
Discounts are also offered with an objective to improve the sales growth. Usually, businesses have weekly, monthly, quarterly as well as yearly goals. As the discounts improve sales volume therefore, the businesses offer discounts on their goods or services.Usually businesses offer discounts in the period when their sales volume is low and utilize it as a tool in order to improve the sales of their goods so that there could be a steady flow. Discounts are an effective marketing tool for business. They are one of the great way to improve brand awareness. It attracts the attention of the customers and they will go interested in the particular brand.
Why discount Calculator?
The online Discount Calculator allows you to calculate any type of discount mentioned above. It is very helpful Discount Calculator for markets and shops as they need to calculate the amount of discount which they want to offer on different products. Besides, it is also very helpful for the peoples who are availing discounts. Customers use this tool, in order to calculate the amount of discount which they receive on products. The working of the Discount Calculator is very simple. You just have to enter the original amount and the amount of discount which you receive on a particular product. Within seconds, the discount amount will be before you. While it also tells you the amount of money which you save.
Conclusion
We have discussed the Discount in detail and also provides you with one of the best online Discount Calculator. This tool is best in the market, as compared to the other tools it gives you the most appropriate value without requiring any sign-in or sign-up option