products

Four ways

There are only four ways to increase profit:

  1. Increase volume

  2. Increase price

  3. Reduce cost

  4. Change product mix

It's important to note that these strategies are not mutually exclusive, and often, businesses use a combination of these approaches to achieve sustainable profit growth. Also, other strategies and factors can influence profitability, such as marketing, branding, customer service, and innovation. Even though I think that understanding the changing market dynamics is typically the most effective way to increase profit over the long term. The effectiveness of these strategies can vary depending on the industry, market conditions, and the specific circumstances of a business. Contact me via e-mail to arrange a meeting about a more well-rounded approach that considers all aspects of your business.

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Why should buyers choose you?

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There are certain things that are commonplace in every industry:
1) You rely on customers and clients for your success, and
2) You will have competitors. 
Creating perceived value is subjective and depends on individual perceptions. Even if a product or service offers great features or benefits, its value is only meaningful if it is perceived as valuable by the target audience.


I think that understanding consumer psychology and using data to uncover insights about preferences and motivations will help businesses create perceived value in the minds of their customers. Effective marketing, branding, and communication strategies can influence perception and enhance the perceived value of your product or service. Contact me via e-mail for a confidential meeting about your organisations value proposition.

““The essence of power is the ability to define someone else’s reality and make them live according to that definition as though it were a definition of their own choosing.””
— Dr. Wade W. Nobles

Focus on the champion

The iPhone is a hero product

An ancillary product refers to an additional product that is obtained as a free or supplementary purchase while buying another product. These types of products are usually offered as an incentive to customers, rather than reducing prices or offering discounts, to encourage them to purchase the primary product. The main product of a brand is typically considered as their flagship (or “hero”) product, which embodies their values and is prominently displayed in presentations and displays. It is the product that people recommend to others and urge them to try. Regardless of how many products a brand offers, the flagship product is the one that best represents the brand. I think we tend to be willing to pay for the flagship product as we believe it provides good value for money, unlike ancillary products.

Vision drives everything

Whenever you are the first one out of the gate, you will have to break through that metaphorical plate of glass. I mean you will have to go through deep scrutiny and answer questions, for example, “What does this mean? Why did you say (or write) that? Are you insulting us? etc., etc.” Selling a service is vastly different than selling products, and the main difference is that a product business sells physical, tangible objects, whereas a service business provides value through intangible skills, expertise and time. Image and message are sometimes more important than execution. Even though I think that if you can show your products in a picture, illustration or in real life, it will help your presentation. Vision drives everything and without one, you will get lost.

Ignite your enthusiasm

How do you sell your products and services effectively?
Some people are better than others at telling their story. You have to keep pushing as the resilience and perseverance is what will drive your company and they are the key characteristics of entrepreneurs. We must never forget that our customers are our sales force, and we will need to get our customers talking about our products and services and sharing those experiences.

 

How will you communicate the vision behind your company?
I think passion is everything and it starts from the leader whose vision it was to build that company. Passion is contagious, and I am passionate about building self-esteem and this comes across in every conversation. I think it takes courage to be simple.