It can not be denied that one of the biggest impacts to a country’s economy is from the development of businesses, which is by enhancing the number of sold products as much as possible through implementing certain customers attracting methods that will be shown in the below essay.
Firstly, enterprises can reduce the products’ price, by lowering the production costs, having discounts on several occasions such as on Christmas, New Year’s Eve or Independence day, which can easily create the impression of customers with their goods. Nevertheless, despite prices’ reduction, they still need to guarantee their products’ quality to avoid bad experiences from consumers, which lead to negative effects for the companies.
Expanding businesses’ scale by starting to sell other items that are similar to what they already sold before. For example, Nike, a giant brand of manufacturing sportswear, used to be a small company that only producing shoes for track and field athletes. On the other hand, it needs to be aware that the enterprises would need a bunch of money in their expanding process that may result in the owner’s bankruptcy when their companies fail.
However, in the globalization period with the development of different technological devices and the Internet connection, the most effective method to be mentioned, from my perspective, is marketing through many social media platforms like Facebook, Tiktok, which can attract millions of users everyday. In addition, the businesses can erect banners on different avenues, squares, or on popular events such as concerts or sport matches. However, there are too many brands using this method nowadays leading to fierce competition in the market that only can be solved by creating the prominence in the company’s items and also in marketing strategy.
In conclusion, it can be seen that there are plenty of customers approaching methods for every business such as lowering the price, expanding the enterprises’ scale, with the best method is marketing through social media or in crowded events.