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The quickest way that you can destroy a business is to engage
in a price war where no-one makes any money. Make your offering the
best overall value, not necessarily the cheapest - unless you have clear
cost advantages which mean that you can sell low and still make a
good profit.
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Make sure the actual value (to a business) or perceived value
(to consumers) exceeds what you will charge them. Otherwise you will
always be trying to sweep water uphill.
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Have you been put off by companies that say something is
special, but it’s hardly worth having? Or by offers made under a “loyalty
scheme” - and badged as such - that turn out to be the same as offers
being made to everyone else?
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Analyse your e-commerce sites sales patterns and make a special offer if they
haven’t come for a while. Get and retain their permission to keep in
touch with them by email by making it worth their while.
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Airlines do this by discounting seats booked way in advance and
sometimes at the very last minute, both of which are less convenient and
popular than booking a few weeks in advance. You might do this by
discounting returned goods or end-of-lines. Provided that it’s not loss
making, it’s better to sell to price conscious customers at a discount
than to lose the business to the competition.
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E-commerce Pricing and promotion
