From our blog
Research – it’s iterative…
You need to look around you. RegularlyResearch doesn't need to be a massive undertaking It’s not an annual exercise that you are looking to endure/brace yourself for.Research is not a once in a while activity.In essence, you’re searching for data to give you and your...
The starting point …
ALWAYS Research.When we’re considering a different way forward, you’re signalling you’re ready to make a change. But you don't want to waste your time and financial resources without seeing the result you are looking for. But what does that change look like? We can...
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Are you starting to think about the year ahead and where you would like to go with your business? We’d love to meet (in person or via Zoom) with you, no charge, and discuss how we can get your business where you want it to be through strategic marketing! Drop us a...
Does that mean you should never market your product “at the best price”?
Of course not. Pricing is an important variable in the marketing mix. But be sure to think through the ramifications of discounting. Set yourself clear objectives as to what you are trying to achieve and then analyse the actual performance to see if you achieved...
It is not always easy to make a change to the product
Perhaps you don't have exclusivity on a product so you may have to look to add value in many other ways. Giving more personal attention to a customer.Having stock on hand when the customer needs it most.Rescheduling orders to cater for a customer’s emergencyTaking a...
It’s about how much value you add. As THEY see it
And that’s so much harder. To create value rather than dropping the price. But its worth the effort.Consider a value added pack, eg: 10 plus 1 - for a limited time. Perhaps the same product. Perhaps a smaller size added. Perhaps a sample of another product to...
The price of the product or service can become a scapegoat for other problems.
Instead of having a good hard look at all the possible reasons for the product or services poor performance, we blame our lack of sales on the uncompetitive price. We should be analysing our particular situation and developing a strategy most appropriate to the...
Direct pricing comparisons are made where products are seen as being similar.
The person finds it very difficult to differentiate between the offerings and so price becomes the determining factor. Where the consumer is clear about what a brand or company offers versus the others in the market, price becomes less of a factor.
People don’t always buy on price.
We buy based on our perception of the value of an item to us. Even individuals with a very limited disposable income will find a way to buy an item that they really want. If you asked them why they chose a more expensive brand over a cheaper one, they would be able to...