Saturday, September 1, 2018

Incentives : how it pulls people into the market

We as rational people  are surrounded by incentives to get our work done by our superiors. Starting from early childhood, incentives has been playing a pivotal role in our daily life. You may relate quite easily when I say what my mother used as a tactic to get me drink my glass of milk, she used to say that I would get a chocolate if I drink a glass fully.

Similarly, incentive plays an important role in the corporate world as well service sectors. When the manager of a big firm wants to get good returns from his employee's work, he uses incentives to allure their interests. Similarly, if I take an example of a cloth outlet, when a brand outlet requires to increase their sales of new products, they use interesting and clever discount offers to draw the customers attentions.

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