Quote from: MarjorieZimmermanGinger on June 29, 2023, 09:59:42 AM

Quote from: puloweh555 on June 28, 2023, 12:27:09 PM

You are very right, This is what I do with my business now. Produck completeness is very important, because don't let them enter our store, the product they are looking for isn't there and that makes them lazy to come again. Good service will also greatly affect our business in the future, especially in the midst of price competition. I confidently sell at normal prices (more expensive) because my competitors are price wars. But I have a quality guarantee (value) that is not the same as them even though the product is the same. Plus I like the prospect of own business to prospective buyers with simple offers plus giving detailed product info.

So, customers can understand and achieve my target. Whoever comes to the store, try to make him buy my product, don't let him fail to buy it. The difference in price is clearly more expensive for me even though the price difference is not much different. This is where marketing knowledge is needed in order to get regular customers and new customers.

You can use influencer promotion services as an add-on and often times this method is successful, price wars are also a problem nowadays and very often businesses that have little capital go bankrupt because they are unable to compete on price. There must be something that distinguishes the business that you manage with other people, meaning that you must be able to maintain the guarantee of the products you sell, marketing methods and the way you serve buyers are also very influential. Just look at supermarkets that sell the same goods as other stores and the prices in supermarkets are not always the same, sometimes they are more expensive and sometimes cheaper than other stores, but they never lose even if they have to make promotions or massive price cuts

That's why large capital is needed and when you can't compete with other stores, the business you manage will never grow. Currently, the role of developing a business is not easy and when our capital is small, it will be very difficult to compete because our competitors are much better prepared to cut lower prices. Regardless of the promotion strategy that we carry out and preferably after all the processes that you have done correctly, evaluate at any time and roughly what sector makes our business different from other people's businesses.

Small businesses can not conveniently afford influencers, so you are right by saying that large capital is needed otherwise the business may not survive competition from other established stores. That is why in my shop, as a small business owner, among other strategies like online advertisements, giving periodic discounts and rewards, i focus more on giving quality and delightful services to my customers. This has worked personally for me in my business, because I get a lot of new customers who go to the length of making me know that it was customer a or b that directed them to my shop. This delightful services to customers includes the way I treat them like royalties, with utmost respect, when they step into my shop, it doesn't matter if the customer is buying the least item. Secondly is that I build trust by telling customers the truth about the quality of the product that they want to buy. So let their capital determine the quality that they eventually buy, among different brands of a type of goods.

This simple tip has been working for me over the years and increasing my sales, which in turn is boosting my profits. I really recommend it for small business people who have little capital.