Extrinsic Motivation

I remember when I was in elementary school if a student finished a book we were rewarded with a certificate for a small pizza from pizza hut. If I remember right, all we had to do was write a page about the book, something that could be done without thoroughly reading or comprehending. I probably got ten free, greasy pizzas with little to no effort. This extrinsic motivation motivated me to find the quickest way to get the just of a book and write about it. I don't think that kids should be rewarded with something completely irrelevant to education, much less unhealthy foods.
I understand that not all children are intrinsically motivated, and educators need to find a source of motivation in a student but I can think of many examples of extrinsic motivation being used ineffectively. I dint think that students deserve a reward every time they do something correct, but I don't think that students deserve a punishment every time they make a mistake. I think that rewarding a student when they do was expected is unnecessary and a poor example to extrinsic motivations. If a student needs motivation in the classroom, I think a teacher should use it to their advantage, like once a student completes a book give them another, better book for that student, or a gift certificate to a book store for example. Intrinsic motivation would be great for every student to have in the classroom, but I feel that a teacher can utilize extrinsic motivation to better the students education.