Final answer:
The sales promotion that offers benefits for continuous patronage is known as a loyalty or rewards program. These programs provide incentives such as points or discounts to repeat customers. Money-back guarantees also act as a purchase incentive by assuring product quality.
Step-by-step explanation:
The type of sales promotion that gives a benefit in exchange for continuing patronage is often termed a loyalty program or rewards program. These programs typically offer points, discounts, or other incentives to customers who make frequent purchases or engage with the brand on a regular basis. For instance, a frequent flyer program rewards airline passengers with miles that can be exchanged for free flights or other benefits. Businesses may offer various kinds of sales promotions such as money-back guarantees, warranties, and service contracts as explicit reassurance of their product's quality. Money-back guarantees are particularly effective for companies that sell goods online or through catalogs, as they provide customers the confidence to make a purchase despite not being able to physically inspect the item before buying. Another type of sales promotion is tying sales, where a customer must buy one product to have the option to purchase another product, though this can be less about rewarding loyalty and more about increasing sales volume.