1.When answering this question, you can discuss the marketing and promotional strategies behind offering prizes. Companies often use prizes to attract and retain customers, increase brand loyalty, and boost sales. Prizes can create excitement and engagement, encouraging customers to participate in promotions and make purchases. 2.You can also mention that offering prizes can help companies gather valuable customer data and feedback, which can be used to improve products and services. Additionally, prizes can enhance the company's image and reputation, making it more appealing to potential customers. Providing specific examples of successful promotional campaigns can help illustrate these points.

1.When answering this question, you can discuss the marketing and promotional strategies behind offering prizes. Companies often use prizes to attract and retain customers, increase brand loyalty, and boost sales. Prizes can create excitement and engagement, encouraging customers to participate in promotions and make purchases. 2.You can also mention that offering prizes can help companies gather valuable customer data and feedback, which can be used to improve products and services. Additionally, prizes can enhance the company's image and reputation, making it more appealing to potential customers. Providing specific examples of successful promotional campaigns can help illustrate these points.