Thursday 13 March 2008

How to boost sales?

Liverpool Malaysian Night, liverpool malaysian night. Seriously pening kepala.

Sometimes I wonder why did we decide to carry out this huge project in the first place. So much hassle, hard to get people who are committed, so many problems popping out here and then, hard to promote, nobody to support.

Talking about promotion, here's the biggest problem right now. I just don't understand. The promotion this year is extremely aggressive as compared to last year. Yet, sales are really poor at the moment. I felt like giving up so many times along the way. But looking at the team of people working so diligently, it will be seriously unfair to them if I had drawn out as most of them were dragged into this by me in the first place. So, pulling out wasn't an option at all.

Sometimes I do wish that I've taken Business or something along those lines. Good skills to learn and if you apply them properly, will help me in investment in future and maybe I would have done something to prevent this situation from happening now.

Price: What attracts consumers to buy your product?

Most important point is, they will have to feel that the product is worth the value that they're paying for. Even better if they think that the product is worth more than that they've paid for.

'Woah, this is good bargain. How can they earn profit by selling us this at such a low price?'

This expression will be what the seller yearns to hear the most. The indication of success.

On the seller's part. We strive hard to cut cost, yet preserving the quality of the product that we're selling. Main aim: To trick consumers into thinking that they're at an advantage by buying our product at a price which they think is much lower that the value that they're paying for.

So, a successful business person will be the one who can accomplish an equilibrium in this. This of course will only apply to cases where the product which is new or maybe have many competitors on the market.

It will be another story if the brand was already established, has good reputation, have a huge 'fan base', or holds the monopoly to the market. At this stage, price doesn't really matter.

2 comments:

Ang Choon Seong said...

haha

so kesian.

dats y now me also not doing any soc work. Give up.

Windchaser said...

i'm retiring for good already. it's not worth all the trouble and most people don't appreciate.