Depending on the products you're selling, you could add value by providing additional information that clears up customer confusion about using the products, or by providing information on ways of getting better usage from your products. However, not all products are amenable to this. The way out of this dilemma of dropshipping vs carrying your own inventory is understanding how to use both to your advantage. Use Dropshipping to Learn Which Products Are the Most Lucrative Having your own inventory allows you to buy products from suppliers at bulk rates. This allows you to profitably out compete your competitors on pricing.
The present status of consumer is defined as a group of people to express their prestige, to influence others by using certain brands. When a person has a status and certain position in society, it may be jealous by someone else (Phau & Teah, 2009). Those consumers who have lower status, they have an idea of buying counterfeit goods to present a higher position (Budiman, 2012). Phau and Teah (2009) have found a positive effect of status of consumers to attitudes and intention to purchase toward counterfeiting product of consumers. Hypothesis H6 is set as
Even when buying a simple t-shirt there are a vast number of brands that may be considered, ranging from Zara to Gucci. A parsimonious person may opt to buy a cheap modest t-shirt that simply gets the job done; as long as it fits, the person may not mind which brand is from. However, many people will often prefer to spend for the T-shirt that come from brands with "name value", for example for the brands that are well known and possibly charge a great deal more for their products. What motivates people to buy products from more well-known or expensive brands? Is it because they are willing to pay more for quality?
The powerful firms use lower prices, deals, packaging, coupons, free testing and advertisements to promote their product so that the firm’s products can compete in the market. This is a win-win situation. This can let the firms to gain profit and consumer also gain the benefit to try the something new. For example, when there is buys 2 free 1 promotion, the consumer buy the product that is promoted and they think in opposite way that
This is to avoid customers being not able to purchase what they want and they might go to their competitor store to purchase it. Besides that, Tesco Seri Tanjung Pinang has to identify which product is their best-selling so they can take on this advantage to sell more to their customer. Feedbacks from the customers are important as they are showing Tesco Seri Tanjung Pinang what to improve. Trade-off is a technique or way of reducing one or more desirable outcomes in exchange for increasing or obtaining other desirable outcomes in order to maximize the total return of effectiveness. Cost minimization is a
1.1.1 Threat of Substitutes Both company in the same industry or in different sectors of the enterprise, may be due to the production of products are substitutes, which between them have a mutual competition, which originated in competition substitutes will affect a variety of forms industry competition strategy of existing enterprises. In the case of Hup Seng, the threat of substitutes is rated as high because the accessibility of substitute products is very wide. Competitors such as Julie’s have made their products as exceptional and with high quality as possible with lower costs to attract buyer inclination to substitutes. Customers can choose others biscuits or cakes instead of eating scones that made by Hup Seng therefore Hup Seng will
2.3.2 Sales Promotion and its Relationship with Consumer Brand Preference It has been acknowledged that consumer and trade promotions can be a very effective tool for generating short-term increases in sales, and many brand managers would rather use a promotion to produce immediate sales than invest in advertising to build the brand’s image over time (Belch & Belch, 2003). They, however, caution that overuse of sales promotion can be detrimental to a brand in several ways. The first is that a brand that is constantly promoted may lose perceived value. This is in line with Teunter (2002) and Jha-Dang’s (2004) assertion that the presence of a promotion will lead consumers to attribute lower quality to the brand owing to the fact that it is on
Q4: Do price factor influence you the most while purchasing from gul ahmed? YES NO 11 9 INTERPRETATIONS The results shows that more positive responses determines that the consumers who purchase from Gul Ahmed are influenced by the price factor and are considered to be price sensitive consumers. The prices are determined to be important for the consumers and the pricing strategy will have a great influence on its consumers because they are highly concerned with what they get for the cost they pay. Mostly consumers that opt for Gul Ahmed are very much concerned with the quality of products and are aware of prices being offered by other brands in
From the viewpoint of the customer, there are some advantages of buying a product under oligopolistic market. Firstly, customers may have many choices. Oligopolies sell various branded goods because of the characteristics of imperfect competition. One of the characteristics of oligopoly is non-price competition. It is a less risky strategy.
It is known for removing stains in just one wash. The price of Ariel is in accordance with the premium range of competitors available in the market. The price of Ariel is a bit higher than the competitors but people are ready to pay higher price for Ariel because it does not harm the quality of cloth. The Ariel target market is mainly for upper middle class who can pay higher price for the quality. For lower middle class, Ariel has launched a small sachet.