Advertising with low pricing

[Augusta]

Low pricing of a product or service is giving to customer a price to buy that is lower than other sellers out there. Some sellers use this advertising strategy to make more sales. These sellers believe in quick turnover than in just the profit. The truth is that people are always willing to walk a mile to get a product that is less in price even if the discount isn’t reasonable enough. The sellers know this and capitalize on it.

The thing here is that a seller is ready to get some pennies per sale but do the calculation if more than 100k people should buy that product because of the low pricing. So a quickturnover will still net a business more profit even at a low selling price

What’s your thought?

 

[Chibson]

this is exactly the truth and I have observed this and suggested to a lot of people who own small businesses near my area. no matter the price difference even if it is very small people will always be ready to go far distance to buy a product that is cheaper. This is one thing that a lot of small business owners do not understand. Someone who sells can easily sell products than someone who sells higher.

 

[Augusta]

this is exactly the truth and I have observed this and suggested to a lot of people who own small businesses near my area. no matter the price difference even if it is very small people will always be ready to go far distance to buy a product that is cheaper. This is one thing that a lot of small business owners do not understand. Someone who sells can easily sell products than someone who sells higher.

Yeah mate you got the drift personally I do this too. You know we are always ready to buy for low even if it just pennies that we will save from each purchase we wouldn't mind. A good seller can use this to make more sales which in the long run will bring more profit too so it a hidden form of gaining sales that should be adopted by sellers

 

[sincerem]

You said exactly what i do at times for NY offline business. I take some discount just to entice customers to keep flocking and patronizing my business. This is one of the best strategy for a business owner to make huge sales than its contemporary in the business environment. Not that you will sell below cost price, but beneath other competitors price and make some gain, record high sales that will make you record more profit at the end of the day more than your contemporaries.

 

[linneasandel]

If you wants to advertise your business in a low cost then can use cost-effective promotional products which you can customized with your business logo and name & hand out among the target audience. This will leave a good impression on the receivers and highlight your brand to the users everytime whenever they will use your branded item.

 

[btaliat]

I have seen this method used by some business owners. While this method may be liked by customers that love quantity over quality, it is frown at by most people that prefer quality material. It is very common that most people that involve in this method always sell inferior goods and products as no one can buy high quality and sell it for low price for customers.

 

[Deleted member 28127]

People are just focusing for lowest price but you have to include money spend in transport if for example merchant near to your house is selling this item for 120 $ and merchant in another town is selling for 115 $ however you have to spend 7 $ in transport means you sell it for 114 $ + 7 $ = 121 $ but you will be happy that you economise 6 $ however in reality you pay 1 $ extra this is matter of false calculation.

 

[Alexandoy]

Usually the low pricing of the products is done with an enticing promo. I have posted about the promo of Pizza Hut here with their buy-1-take-1 for family size. The flavors are unlimited to reduce the cost of the promo. But that promo is continuing for more than 10 years now which means it is a hit and they are earning from it.

 

[Lens1000]

That’s how marketing works most of the time. A little price difference could make customers walk miles to buy a product or services. I have witnessed this in my offline business so I try as much as possible to ensure that I sells at a lower price to attract customers and it really works. There are lots of things one can do to attract customers

 

[Augusta]

Usually the low pricing of the products is done with an enticing promo. I have posted about the promo of Pizza Hut here with their buy-1-take-1 for family size. The flavors are unlimited to reduce the cost of the promo. But that promo is continuing for more than 10 years now which means it is a hit and they are earning from it.

Sure the adoption of the strategy is one way of luring customers to make sales and have customers for the product. This is mostly done for new products at least this will help the products make it first few sales. People most times would not want to make a change but the low price will change

 

[linneasandel]

The best ways of advertising your business is distributing promotional products among the target audience. These cost-effective best selling promotional products can be customized with your brand name and logo which you can handout to your customers, clients or individuals. Many marketers apply this marketing strategy, so you can also try this.

 

[Sherman198]

Price difference is highly temping a lot. If you have two goods that serves the same purpose, but have a little different in price, we may likely be tempted to buy or go for the one that's lesser in price. Though, I can't go to a very far place over little different in a price, because we have to consider the stress and transportation fee. Many people don't consider this.

 

[Mika]

In this competitive world, I do not think you can do low-cost marketing and still manage to pull a lot of sales. If you do some research, you will find out that the advertising budget for successful companies is as much as the amount spent on product development, sometimes even more. Advertising requires a lot of money.

 

[Mjay]

Low pricing is mostly good for new products in the market but sometimes when the low price go beyond the market rate, buyers start to think the product is fake or the quality is not as advertised due to the low price of the product well it is a good idea though

 

[Setho]

There are a lot of people who the difference between them buying from you and your competition is actually the price that you put and they may not even want to bother about the value . this is why anytime you are advertising you should always choose a very competitive price before trying to add your own value to it.