Nowadays, many organizations are using different marketing strategies to boost their companies’ sales of goods. In this essay, I will discuss on some of these methods and share my opinion on which I believe is the most effective way.
Firstly, one approach is to decrease prices of products or services by lowering production costs. Lowing the price could attract some customers and helps reduce taxes and their cost of labour, materials and processing. However, cutting down the price could lead to some major problems. It could bring the quality of the products down with cheaper alternative materials and affect the customers’ experience. Another problem is that workers in rural area are being treated poorly. Many factories pay them with low wages and make them worked in tight schedule and poor condition.
Secondly, another aproach is to expand the business by opening more shops in many area. This can help customers to gain easier access to the services, products. For example, Highland coffee used to have a few shops in a small area. The companies decided to expand their coffee with the opening of the shops in many area. This create a massive trend and helps attract a lot of customers. There are also some advantages to this which include major financial risks. Companies establishing more stores can lead to bankrupt due to the lack of managing qualities and poor adjustments.
Lastly, the most effective way for boosting sales is advertisement in many social media platforms. The reason for this is to gain public’s attention and awareness of the products, which results in higher demand. By advertising, companies can create many special events or campaigns with discounts or any images, videos promoting their products. Take shopee as an example, every months they offers generous discounts to customers and gameplay that give vouchers and prizes. Besides, the companies also invite celebrities to become their brand ambassador, gaining popularity. But in a competitive industry, organizations have to bring some out-standing ideas and strategies to promote their products.
In conclusion, decreasing the price can make a short-term run but can cause serious problem like the quality of product and poor working condition, expanding your franchises can gain better access but also lead to bankrupt, and advertising needs excellent strategies. Although lowering the prices and expanding your business are really important for companies to boost their sales, I still think that making commercial is the best approach.