The main task of businessmen is"Sell", The products sold can be any product, collectively referred to"Goods", The goal is to get"Profit".
A pure merchant does not really consider what the goods are, how the product works, and how it is produced. His only goal is to sell the goods in large quantities.
Profit = (price-cost) * quantity
The way to increase profits is done on these three variables.Article.
- Cost reduction
- There are two opposite results for changing the price
- Increasing the price may reduce the number of purchases
- Increasing the price may encourage agents to increase the sales volume.
- Quantity = Promotion * Conversion RateWhen the cost and price elasticity are relatively small, sales can only be increased through various methods.
- Promotion
- Advertisement
- Free of charge (low cost)
- Proxy
- Increase Conversion Rate
- Reduce customer concerns:
- Various guarantees, such as brand, quality assurance, return guarantee, and no false guarantee...
- Sales volume is displayed, and the customer thinks that the sales volume is of high quality.
- Improve Customer Experience:
- Intuitive: images and videos are provided. The product looks beautiful.
- Compares similar products with pre-production products. It highlights advantages and is represented in numbers.
- Easy to use, secure and reliable
- Satisfy Customer psychology:
- Cheap
- Distinguished
- Improve Product Quality: can indeed meet customer needs
- Increased number of regular customers in after-sales service
- Price concessions, promotions (short-term)