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In Miva, coupons must always be associated with a Price Group. The Price Group creates the discount, but the coupon is how customers receive the discount.
For example, you could create a Price Group for a 2-for-1 sale. If the customer buys one of a certain item, you will give them another of the same item for free. When you use a coupon, your customers are offered a 2-for-1 sale, and the way they get the discount is by entering the coupon code during checkout.
The Miva admin allows you to create two types of coupon codes:
Depending on how you distribute and track coupon use, there may not be much difference in whether you generate a set of unique coupon codes for a discount, or give all your customers the same coupon code. If you were selling coupons as gift certificates, though, you likely want to generate unique coupon codes.