Source: eGrabber Newsletters
Simply providing quality products and services at a reasonable price is not enough to draw customers during a recession. Slashing prices will affect your margins, especially when sales volume is low, and is not a financially sound strategy. By keeping the price constant, how do you then grab a customer's attention?
Re-package your product or service to create a distinctive offering; one that is enticing in its appeal and value. Though customers are looking at cutting costs, they will still be open to deals that offer real value for their dollar. A number of restaurants and diners have employed this strategy to great effect during this recession. They have been creating special combo offers and throwing a little more in the basket for the same price. Is this something you can adapt for your business?
Creative re-packaging always has the added advantage of letting you stay on top of your clients' minds.
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