HOW TO DRIVE THE CUSTOMER IN REPEAT PURCHASING

A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors.  Pricing strategy is very important to survive in the market because if it does not match with consumer perception this will drive the organization in downgrade. There is some question and answer that will help the organization to prepare a pricing strategy.  

How an organization does perceived better product in terms of pricing?

Today Indian consumers are not necessarily happy with cheap offerings. Now consumer is very savvy when it comes to pricing; if you put the product price something right, they will perceive the value to be correct. The consumer has an affinity with the brand and the product quality is perceived good then they will be loyal with the brand. Pricing is a good bet for the organization and leads to focus on competitors comparisons on the product. In the market there are many good local players who have larger footprints and one tends to compare with your brand offering with their price points.

How do you compare yourself? 

Many companies are looking the market in terms of revenue at the share of the consumer’s wallet. An Organization should try to see how we can make money on the investment.  The most important things are that how the organization ensures that the iconic nature of the brand would preserve and establish for a long term.  There is lot of competition is founded at different price points but the pricing model is chosen to attract the consumer towards brands. Organization should looks at aggressive growth and would be gaining a double-digit market share soon

What is your marketing campaign?

In the digital arena it is important for the organization focus on the digital campaign. The digital space is most important the brand to be in mind of the consumer. When organizations enter in any field of the industry, Number of interesting campaigns is run in the digital space as well as in market place. In the competitive market this is very important to find the target group and where they spend their time. Social media like Facebook, Twitter and LinkedIn this is best medium for the organization to run their digital space campaign to visualize the brand in mass new generation where consumer really wants to see the brand.

This is also important to the organization to run different promotional activities to induce the customer so that be loyal with our brand. Promotional activities can be loyalty card, discount offer, combo offer, membership card and many more.  

Can merger & acquisition enhance the market growth?

Merger & acquisition has the best option to the organization to increase their brand presence in the local market. This helps the organization to achieve long-term plan by local chains that increase the market share and growth. In the merger and acquisition both the partners decide to put in their own investment which reflects the leadership’s view and the opportunity to achieve the revenue.