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Incentives & Rewards
The compensation and benefits provided to salespeople to motivate and reward performance.
Implications
Benefits or compensation provided to encourage specific actions or behaviors, often used in marketing, employee management, and customer loyalty programs to drive engagement, performance, and retention.
Example
Example: A retail store offers a rewards program that gives customers points for every purchase, which can be redeemed for discounts or free products, incentivizing repeat business and brand loyalty.
Related Terms
Different from base compensation or standard benefits, incentives and rewards are additional perks designed to motivate specific actions, such as making a purchase, achieving sales targets, or completing a task.
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