A rebate is a partial refund of the purchase price of a product or service. It is a marketing strategy used by companies to encourage customers to buy their products or services. A rebate is typically offered as an incentive to increase sales or to clear inventory. The customer pays the full price of the product or service at the time of purchase, but they receive a portion of the price back after submitting a claim to the company. Rebates can be in the form of cash, check, or a credit applied to the customer's account. Rebates are often advertised as mail-in offers, where the customer is required to fill out a form and mail it to the company along with proof of purchase to receive the rebate.
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Answer:
A rebate is a partial refund of the purchase price of a product or service. It is a marketing strategy used by companies to encourage customers to buy their products or services. A rebate is typically offered as an incentive to increase sales or to clear inventory. The customer pays the full price of the product or service at the time of purchase, but they receive a portion of the price back after submitting a claim to the company. Rebates can be in the form of cash, check, or a credit applied to the customer's account. Rebates are often advertised as mail-in offers, where the customer is required to fill out a form and mail it to the company along with proof of purchase to receive the rebate.