Post
Topic
Board Economics
Re: Pricing strategies
by
Promocodeudo
on 09/06/2025, 08:13:08 UTC
in this category you may sell low to attract customers at first and later you can gradually increase your price to make profit. but if after increasing your price an they refuse to buy then you must look for product needed most in that environment that no one is selling and add to your business. by so doing you have attracted more customer to yourself and people will always have reason why they will buy from you because you have all they need.

You're right selling at a minimal price gets you more customer but as a business perons it should also be calculated, we do business for profits so even though we should consider selling at a low price our profit should not  be in such a way that it will affect us in restocking our goods, let's say our profit in each good is $20 for instance we can reduce it to $13 they remaining $7 should be a sacrifice for us to lure more customers and another things is, before we sell at this price we would've have check around us to know the amount the goods are been sold in think with that we can actually arrive at a good price that we can sell ours, yea, looking for good that are mostly in ask for in your area to be added to the things you sell add more value to your business, this will even make things easier for most people and they may decide to be patronizing you in other things you said too since there wouldn't be need for them to keep buying from different store when you have everything they need at a cheaper price than what they think, this make such business perons smarter.