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Business strategy
Low Pricing Business Strategy In Supermarket Industry
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[QUOTE="Leah Kelvin, post: 337238, member: 106815"] Implementing a low cost business strategy in the supermarket sector can be an effective way to attract clients and boost sales. Below are some key steps: 1. Study and understand your market: Know your competitors, target audience and their buying habits. Identify price points and profit margins that will satisfy customers as well as sustain your business. 2. Deal with suppliers: Establish strong relationships with suppliers to get good deals on bulk purchases, discounts or promotions. This will help you minimize costs and offer competitive prices to buyers. 3. Utilize pricing strategies: Employ flexible pricing approaches based on seasonal variations, demand patterns and supply mechanisms in place. [/QUOTE]
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