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Prize promotions are marketing strategies used by businesses to encourage consumer engagement and boost sales by offering prizes or rewards. These promotions often involve contests, sweepstakes, or giveaways where participants can win items like cash, products, or experiences by completing specific actions, such as making a purchase or entering a drawing. The goal is to enhance brand visibility, attract new customers, and foster loyalty among existing ones. Compliance with legal regulations is essential in executing these promotions effectively.

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1w ago

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