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Line featuring strategy

Date: 06/06/2006 | Category: Business | Author: developers

There are many marketing strategies for small business owner. One of the dominant ones is line featuring strategy. This strategy is useful when you have many products to be sold, and you have freedom to play around with prices of few products. Line featuring strategy is simple to understand and easy to implement. You pick up a low priced product (say, A) from your portfolio. It is important to note that A and your main product B are from the same product line and B is priced higher than A. Advertise A heavily in the local media offering heavy discounts on A. Chances are very high that your own margins for A are far good enough, or else you can negotiate for higher margins with the suppliers for larger quantities of A. Heavy promotion of A creates hype and traffic to your store for A. Now lies the trick. Your sales team should be trained enough to compare A and B while always keeping the B in high esteem. If you are able to convert some of you’re a prospects into B, you are in win-win situation.  

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