Thursday, December 10, 2009

A Marketing Idea

Source: http://www.gabrielutasi.com/
When starting a company, you have to think, "what makes my business special?" And when you have your answer, think of how to advertise for it. Think of your customers, not yourself. Customers only care enough to the extent that you satisfy their want or need. And the advertising done in this comic, you are pricing 50% of what your competitor (who is you, afterall) is pricing.

Promotional Pricing is great, because many people don't start shopping till they see a big "SALE" sign. Promotional Pricing is a temporary reduction in price and is often used to price products that are just entering the market. This comic, brings humour into the art of advertising and pricing your products that are new. After all there is a limit to how low you can price, before you realize that you're actually losing money rather than increasing sales!


5 comments:

Syed Ahmad Hashmi said...

You highlighted an important marketing aspect. Good work brother.

Haider said...

hehehehe....... i couldn't help it but..... i think Alina is a GIRL

Anyways i think WAL MART did something like this to put Toys "R" Us almost out of business.

Syed Ahmad Hashmi said...

Haider Grow up. your comments are always irrelevant to our work. Whether brother or sister it really not matter's. I could have changed that to sister,but now i'll not.

Haider said...

come on dude.... you don't have to get all touchy-feely on my comments. it was something i thought was funny and i pointed it out. I didn't say that you MEANT to call Alina "brother".... i can't stop smiling

Btw my comment was a constructive feedback. Atleast it shows my knowledge of the subject at hand.

Joshua Khan said...

I am so glad I took up Prof. Amin's advice and visited the blog. Lately, I haven't seen something so interesting and hilarious as this. Good Job Haider and Hashmi. Trust me if we put this on digg we would have maximum hits. Hashmi sahab here's something about Haider you should know; He is already 6 2" and can't grow up more literally or figuratively! LOL. Talking of business, I think Alina imparts great wisdom and logic into this matter. However, as much lucrative as it sounds, this is based on deception, low ethical values and oblivion of business constraints. To fund a business is no easy task let alone fund two. Plus, pricing wars are really dangerous. Alina you might know ebay is doing something like this. Ebay broker deals between bookseller and buyer and simultaneously operate this website half.com (now it's changed to half.ebay.com)to sell books directly to customers. They sell books on half.com cheaper than at ebay. Although, they don't advertise about this frequently but they are working partly on the model you described in your post. Haider I like your insight on this matter. I was able to find a link on that Toys R Us story: http://news.bbc.co.uk/2/hi/business/3559516.stm
You're right about Walmart scaring Toys R Us but they aren't using any strategies of which Alina talks about. Walmart all year round sells goods at discounted/inexpensive prices in regard to their mission statement "Always Low Prices".