Price Increased but more Selling | Here's How | Arli Kurnia

In the face of unfair price competition, the first step that can be taken is to get out of the market. By exiting the market, you can have flexibility in pricing the product to get more profit and for promotional purposes. Choose to sell items that are in demand in the market.

However, what caused the price war? Price wars are influenced by the law of supply and demand. Offer refers to the availability of goods from sellers, while demand relates to consumer needs. If the number of sellers or goods increases while the demand remains low, a price war will occur. Therefore, the solution that can be taken is to sell outside the market affected by the competition.

If you sell both wholesale and retail, then it's important to choose one of the two. It is not possible to apply both at the same time. If you choose to sell wholesale, you can convert your competitors into your customers, but the competition will be even more intense. The solution is to sell outside the competitive market. In selling wholesale, profits will be smaller but sales will be faster. You have to be able to sell at a price below the selling price of competitors who buy in bulk. To compete with warehouses, you also need large capital, adequate space, and good or professional management.

If you sell in retail, choose the appropriate target market, for example in lower, middle, or upper class housing, according to your preferences. Avoid using the word "ready" and replace it with the word "provide" to create a more exclusive impression.

You can optimize the sale of organic products through the Facebook and Instagram platforms. Advertise your product in local sales groups in your city with adequate promotion costs. For example, you can offer bathroom cleaning services by removing bathroom crust, or vacuuming furniture with a depth of 30-40 cm. It's worth noting that followers on Instagram tend to be less price sensitive than Facebook users.

If you sell frozen food, provide content relevant to your target market, such as how-to recipes, meal ideas or tips for kids' lunches. Try to get support and endorsements from local Instagram accounts in your city. Join a local buy and sell group in your city. Promote your product repeatedly for every product you offer.

You can also sell avocados and varieties through Instagram by charging a higher than market price, but targeting a consumer following on Instagram. Another strategy you can use is to place 1 rotten egg in the egg pack. If a customer finds rotten eggs, you provide a guarantee by replacing them twice as much. Maslow's theory can be used to support this guarantee. For example, with the "Profit Maker" book, you can guarantee that the damaged book will be replaced by checking steps via video call, and it sells more than pirated books which cost a third less.

There are two important factors in selling products successfully, namely warranty and interaction with customers. These interactions include smiling, greeting, using the customer's name, as well as attending to the customer's needs by giving them small rewards, such as calling them fun names like "Hello handsome boy." You can make merchandise sell well without significantly lowering the price. Convenient and quality service can slightly increase the price of your product.

With the right strategy and applying theories such as the law of supply and demand and Maslow's theory, you can increase your sales and profits without getting caught up in unfair price competition in the market. [20230523-eg02/02]

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Strategies to Increase Prices by Increasing Popularity