» Maintain Sales During a Down Period
Discounting vs. Customer Loyalty Programs ?
Effective Pricing is truly an Art form. All relevant Business Expenses must be factored into the creation of Pricing while also meeting the Competitor's "line in the sand" AND still generating a Profit ... The Result? A delicately balanced Eco-system.
What to do when Competitors implement a Temporary Price Reduction and the delicate balance is disrupted?
Lower Prices to Increase Sales? What message are you Sending your Customers by Lowering your Prices? What impact will a "discount" have on your Brand's Perceived Value? Will there be lasting effects on Future Non-sale Volume? Don't become a casualty of the "Price Wars".
Consider the Alternative Effects of a Customer Incentive Program! Offer your Customers the opportunity to Earn Points or Bonus Buys for Frequent Purchases, Customer Referrals, etc. Maintain your Brand Value while Increasing your Sales with a Positive Reinforcement Program.
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