Post by account_disabled on Feb 22, 2024 2:17:27 GMT -5
Creating a product mix is an arduous but rewarding process. See some benefits that it, when well designed, provides you: Customer attraction and loyalty There's no way around it: no matter how big your marketing budget is, nothing beats good old word of mouth. When a customer visits your store and likes what they see (that is, your product mix), the chances of them recommending you to someone they know are high. The chances of him coming back more often are also good. In this way, the product mix can become a spontaneous advertising strategy for your business. Increase in average ticket At the beginning of the text, we mentioned that a product mix, when well designed, satisfies needs that your customers didn't even know they had.
In other words: a product can make the public realize that they also need something more (as in the example of wine, a glass and a corkscrew). For you, this means an increase in the average ticket. Stand out from the competition When Lebanon Mobile Number List analyzing the competition, many people assume that this actually means copying them. In fact, your focus should be on being on equal footing with her. No, this does not mean offering exactly the same mix of products! At the beginning of the post, we talked about possible “holes” in a competitor’s mix. Your business’s mission should be to fill them! Possibility to create combos Even though tying is prohibited by law, there is nothing stopping you from creating combos. A clothing store, for example, might create a jeans and t-shirt combo.
A jewelry store, with earrings and rings, and so on. When your product mix is well designed, the creation of these combos happens naturally , and has excellent potential to increase your establishment's average ticket. Reduction of idle stock When you choose what you sell well, it is much more difficult to have merchandise parked in stock. It's much better this way, as the cost drops considerably. In addition to paying attention to the ideal purchase quantities, you need to choose carefully what to buy . One wrong step and you could end up with a batch of goods parked in stock, taking up space and giving you no return. It's everything you don't want.
In other words: a product can make the public realize that they also need something more (as in the example of wine, a glass and a corkscrew). For you, this means an increase in the average ticket. Stand out from the competition When Lebanon Mobile Number List analyzing the competition, many people assume that this actually means copying them. In fact, your focus should be on being on equal footing with her. No, this does not mean offering exactly the same mix of products! At the beginning of the post, we talked about possible “holes” in a competitor’s mix. Your business’s mission should be to fill them! Possibility to create combos Even though tying is prohibited by law, there is nothing stopping you from creating combos. A clothing store, for example, might create a jeans and t-shirt combo.
A jewelry store, with earrings and rings, and so on. When your product mix is well designed, the creation of these combos happens naturally , and has excellent potential to increase your establishment's average ticket. Reduction of idle stock When you choose what you sell well, it is much more difficult to have merchandise parked in stock. It's much better this way, as the cost drops considerably. In addition to paying attention to the ideal purchase quantities, you need to choose carefully what to buy . One wrong step and you could end up with a batch of goods parked in stock, taking up space and giving you no return. It's everything you don't want.