Increasing Your Prices Is Like Putting Higher Octane Fuel in Your Car
Next time you're watching television or thumbing through your local paper, take special note of the amount of 20% off, 30% or half price sales going on. Also note the businesses engaging in them, what's your perception of them? Are they large department stores like Wal-Mart, Marks & Spencer, K-Mart? Are they small independently owned stores? Hairdressers? Car yards? No matter the store, promotions like half price sales educate customers around the world to ONLY buy when a sale is going on. And it does one other thing- it positions that company as the retailer or provider of poor quality goods. If you like good quality clothes, do you ever go near the sales racks at clothing retailers? Why not? I'll tell you why- the clothes there are on sale because no one likes them, they're poor quality, or they're inferior somehow, and this perception carries directly to business owners who discount their services or products. I make this comparison to show you that businesses who not only maintain prices, but also employ positioning strategies to create demand, will come out on top (almost) every time. What's the story with that (almost) I snuck in there? The (almost) is for the Wal-marts, the KMarts, for the large discount super stores who have the purchasing power to keep prices down. The reality is that increasing your prices is like putting high octane fuel in your car- you go further on one tank of gas (each sale pushes your profits further than before), and it reduces wear and tear on your engine (you don't burn out dealing with penny pinching clients, or work yourself to the bone on razor thin margins). You even get a little bit of extra power out of your engine... and that power can win business races.Can Weston Marketing Group position your company and its services properly to side step your pesky competition and avoid early business burnout? Find out with our free no obligation quote, today!
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