Price change. At the growth stage
Posted: Thu Jan 23, 2025 6:29 am
, a low price will help attract customers and build brand loyalty. If the product is in the decline phase, such a move will help sell off the remaining stock faster and withdraw the product. Increasing the price can also have a positive effect on sales growth if in a specific niche, customers perceive a cheap product or service as low-quality.
Improving product characteristics . To retain customer interest, you can release an updated version. For example, add a few new features, replace the material with a more durable one.
Smartphone manufacturers often use this tactic: they release updated denmark telegram mobile phone number list versions of phones that differ from the previous ones by two or three new features. This strategy also works in the service sector. For example, a beauty salon may offer hair coloring with a more gentle dye than others.
Improving the level of service. In order not to lose competitiveness, it is not necessary to change the product or positioning - sometimes it is enough to offer a service better than that of competitors. For example, open an online store so that the product can be purchased online, provide an installment plan, offer several payment methods.
Stimulating demand with promotions, discounts and bonuses. These marketing tools not only help to increase sales in the short term, but also to build loyalty. This will help to extend the maturity stage or attract a new audience in the growth phase.
Improving product characteristics . To retain customer interest, you can release an updated version. For example, add a few new features, replace the material with a more durable one.
Smartphone manufacturers often use this tactic: they release updated denmark telegram mobile phone number list versions of phones that differ from the previous ones by two or three new features. This strategy also works in the service sector. For example, a beauty salon may offer hair coloring with a more gentle dye than others.
Improving the level of service. In order not to lose competitiveness, it is not necessary to change the product or positioning - sometimes it is enough to offer a service better than that of competitors. For example, open an online store so that the product can be purchased online, provide an installment plan, offer several payment methods.
Stimulating demand with promotions, discounts and bonuses. These marketing tools not only help to increase sales in the short term, but also to build loyalty. This will help to extend the maturity stage or attract a new audience in the growth phase.