Business promotions

tulip

Active Member
This can really work for the short term; boosting sales and increasing profits, but it seems this cannot be relied upon for long-term goals and/or results. If you are constantly relying on promotions to boost sales, consumers may get the impression that the service/product is overpriced in the first place. What are your thoughts?
 

Foroux

Member
Having a lot of promotions tends to devalue the product over time. People seem to think that as price goes up, quality goes up, which reflects on the brand. It really depends on what's being sold and the target audience involved, but I think discounts around special holidays should be enough.
 

ritchie

Active Member
Having a lot of promotions tends to devalue the product over time. People seem to think that as price goes up, quality goes up, which reflects on the brand. It really depends on what's being sold and the target audience involved, but I think discounts around special holidays should be enough.
This is very true because you also do not want to give the impression that you are trying (too much) to sell a product. Discounts from time-to-time and Black Friday deals, should really be enough
 

JackD

Active Member
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This is very true because you also do not want to give the impression that you are trying (too much) to sell a product. Discounts from time-to-time and Black Friday deals, should really be enough
I agree. Having too many "promotional price reductions" then the customer expects to pay this reduced priced everytime. The low price will become the norm and not the exception. I saw this happen in a service business that I owned for a while. Business was great and I wanted to reduce the customer base rather than having to hire incompetent help so I increased my price. I actually saw an increase in business because the customer thought that I must be better since I charged more than my competitors
 

tulip

Active Member
I agree. Having too many "promotional price reductions" then the customer expects to pay this reduced priced everytime. The low price will become the norm and not the exception. I saw this happen in a service business that I owned for a while. Business was great and I wanted to reduce the customer base rather than having to hire incompetent help so I increased my price. I actually saw an increase in business because the customer thought that I must be better since I charged more than my competitors
Wow, that was brilliant of you! Perception is such a good thing in business because it (to a great extent) affects consumer behavior. Charging a higher price than your competitors sends the message that your services/products are probably superior.
 

Kimla

Member
I do find myself thinking that a consumer must be overpricing the product if they have a lot of promotions. I mean if they can constantly do half off or buy one get one promotions and not lose money then they must be overpricing their product.
 

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