Entering into a new market

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1 year ago
Topics: Learning, Research

Having a lower price is not the only way to gain more customers

As there are people who like to make the process of selling products the equivalent of rocket science, there are also individuals who like to oversimplify It to the point of thinking that the only way to influence offer and demand is through manipulations of the price, this meaning that If you lower the price of whatever you're offering more people will come to buy It from you. However, there are a lot of things that these people don't take into account, such as the fact that customers will suspect that a sudden decrease in the price is equivalent to a decrement in the quality of the product, the loyalty of the customers to a determined brand due to specific values that make them stand out from the competition or that the market is just saturated with people trying to do the same. That's why in this article I will explain how in any field where you are presenting a product that you want the world to acquire (Even writing articles) you can stand out for the rest and create value for people that will be attracted to what you're offering regardless of If you advertise It or not.

Image taken from Pixabay.com. Author: Pexels

What value really means (Skewing Value)

This is where most people go wrong, as value can be associated with much more than monetary value with regards to how people see potential products to buy, something they tend to forget. What these values are? Whatever you can offer to your clients that is unique/better than what others are doing, in this way gaining their loyalty and creating true absolutely value. Examples of these can be seen in companies that are proud of their products being totally natural or having a good customer service, things that make them a better choice in the eye of potential clients and in this way being better than the competition.

However, If you still can't find what type of value you can add up to your product that others are not already offering you just have to take a look at what people usually complain about with regards to the bigger companies in forums, social media or even in the streets. In this way you'll see what need requires to be fulfilled, for which you might be able to provide. To guide you in a better way, I will show a list of values in which most companies tend to falter:

Image taken from Pixabay.com. Author: stevepb


If you ask yourself what specifically convenience means in this context, It is just how easy It is for the client to get near the product and acquire It. Many businesses commit the mistake of not being convenient/accesible enough for their target clients, either in the form of a location that's too far from where they reside or by making the process of purchasing the product, costing them a lot of sales. If you make yourself more valuable by offering convenience to your customer, they'll appreciate It greatly. You can do this by either offering delivery services, being near them, having an easy interface for buying things and a lot more things that make the clients life an easier one.

Additional Value

Obviously we are giving additional value to our product by looking at things we can improve with respect to others, though what I'm really trying to say is that If you want to win your fair share of clients, you have to bring something extra to the table, for which offering additional inexpensive items can represent a great advantage, provided that these can help the clients use the main product.

Customer Service

In most cases the biggest difference between a business with little to no clients and one that has a great amount of loyal customers is that the second has an attemptive and careful customer service, always making helping the client the main priority and even focusing in creating good relationships with them, in this way not only creating a purchase though a friend in the process. From giving calls regularly to see how they are or helping them with menial things such as carrying things to their vehicles can help a great deal to achieve this effect.

Image taken from Pixabay.com. Author: geralt

I hope that this article could have given you some insights as to why lowering the price of a product is not the only way to attract more customers, providing you with the perspective of clients and alternatives you can employ to create a business that provides value in much more meaningful ways for the customer. Thank you for your support and good luck!

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1 year ago
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