5 ways to develop successful price promotions

Companies are pushing their products everyday everywhere you go. So how do you stay ahead? You do you successfully promote a price? Here are a few tips. Always have a plan and be sure that plan includes a product that is meaningful to your customers. They wont buy what doesn’t pertain to them. Customize your products to meet the needs of your customers. Be sure to offer them a variety of products and services. Set a clear goal and analyze what works and doesn’t work for your company and customers.

Key Takeaways:

• head (and know how to get out before you get in). A price promotion, like a special discount, is an effective way to attract new customers, but it can also attract price-sensitive customers.
• When you build an offer, choose items that your customers love and value. People are more likely to change their habits if you offer them something they love at a special price.
• 4. Customize promotions to individual locations. Analyze the impact that price promotions have on your restaurants. In a chain, you might find that certain locations respond more strongly to price promotions than other locations.

“A price promotion, like a special discount, is an effective way to attract new customers, but it can also attract price-sensitive customers.”

http://nrn.com/marketing/5-ways-develop-successful-price-promotions