Post by alicebapary717 on Feb 15, 2024 0:33:12 GMT -5
What do customers expect from your product/service? Does the product meet their needs? What features of your product/service meet customer needs? How and where will the customer use your product? What makes your product different from others on the market? Nowadays, it is also important to adapt products for online sales: marketers need to rethink the offer so that it remains relevant in the market. Price as the "second P" The second no less important aspect is determining the value of the product among the target audience. The pricing strategy involves both analysis of market data and careful calculations. This will help you successfully balance between too high and too low prices and understand how the cost of the product can affect the customer's propensity to buy.
Price refers not only to the monetary value of the product, but also to the time or effort the customer is willing to spend to purchase it. Determining this will be a critical revenue factor for the brand as it will affect revenue, supply, demand and how much marketers should spend on promotion or marketing strategy. If the price of the product is too high or too low, the product (and therefore Honduras Email List the brand) can fail. For example : for globally known brands, the price can be the factor that makes the product appealing to the target audience. This helps to distinguish the product from competitors and other brands, as well as to give the purchase process a certain meaning. Yes, sometimes people pay not so much for the pleasant aroma of Chanel perfume, but for the brand itself and the opportunity to become a part of it.
Useful questions for self-examination: What is the value of the product or service to the client? How will your price compare to the competition? Are there any set prices for the product/services in this area? At what is the highest and lowest price you are willing to sell your product? At the same time, marketers must also master the art of discounting, because everything is not so simple here. Yes, a discount can both attract more customers and create the impression that the product is less desirable. Place as the "third R" Place refers to the distribution channels and methods used to deliver a product or service to a target market. For example, in the modern context, these can be online sites for selling goods, retail outlets, physical stores, etc. At the same time, it is important to make sure that the product is available to customers at the right place and at the right time. Choosing the right sales channels involves understanding customer preferences and behavior.
Price refers not only to the monetary value of the product, but also to the time or effort the customer is willing to spend to purchase it. Determining this will be a critical revenue factor for the brand as it will affect revenue, supply, demand and how much marketers should spend on promotion or marketing strategy. If the price of the product is too high or too low, the product (and therefore Honduras Email List the brand) can fail. For example : for globally known brands, the price can be the factor that makes the product appealing to the target audience. This helps to distinguish the product from competitors and other brands, as well as to give the purchase process a certain meaning. Yes, sometimes people pay not so much for the pleasant aroma of Chanel perfume, but for the brand itself and the opportunity to become a part of it.
Useful questions for self-examination: What is the value of the product or service to the client? How will your price compare to the competition? Are there any set prices for the product/services in this area? At what is the highest and lowest price you are willing to sell your product? At the same time, marketers must also master the art of discounting, because everything is not so simple here. Yes, a discount can both attract more customers and create the impression that the product is less desirable. Place as the "third R" Place refers to the distribution channels and methods used to deliver a product or service to a target market. For example, in the modern context, these can be online sites for selling goods, retail outlets, physical stores, etc. At the same time, it is important to make sure that the product is available to customers at the right place and at the right time. Choosing the right sales channels involves understanding customer preferences and behavior.
