Run aggressive pricing promotions to increase market share
In-Store
Run aggressive pricing promotions to capture a larger market share quickly. This can boost sales and customer acquisition but may also impact profit margins and brand perception. It’s a high-risk, high-reward strategy best for competitive markets.
Tools
| Name | Description | Pricing | Ease of Use |
|---|---|---|---|
| Amazon Ads Console | Amazon Ads Console is a sophisticated marketing tool designed to empo… |
Paid Only
|
Moderate
|
| Amazon Seller Central | Amazon Seller Central is a comprehensive platform designed for market… |
Paid Only
from $39.00/mo
|
Moderate
|
| Google Ads | Google Ads is a comprehensive online advertising platform that enable… |
Paid Only
|
Moderate
|
| Google Merchant Center | Google Merchant Center is a robust platform by Google that allows mar… |
Paid Only
|
Moderate
|
| Instagram Business Tools | Instagram Business Tools by Meta is a comprehensive suite designed to… |
Paid Only
|
Moderate
|
Objectives
| Name | Description |
|---|---|
| Customer Acquisition | Customer Acquisition is the process of attracting and converting new … |
| Sales | The marketing objective 'Sales' focuses on increasing revenue through… |
Demographics
| Name | Description |
|---|---|
| Students | Students are a vibrant and evolving demographic, primarily aged 16-24… |
| Urban Dwellers | Urban Dwellers represent a dynamic demographic group characterized by… |
Promotes
| Name | Description |
|---|---|
| Brand | Brand represents the unique identity of a business, encompassing its … |
| Digital Product | A Digital Product refers to an intangible asset distributed in digita… |
| Physical Product | The Physical Product represents a tangible good that marketers have t… |
| SaaS | Software as a Service (SaaS) is a cloud-based service where instead o… |
| Service | The 'Service' is an innovative solution tailored to address current c… |
Sectors
| Name | Description |
|---|---|
| Food and Beverage | The Food and Beverage sector is a vital part of the global economy, e… |
| Hospitality and Leisure | The Hospitality and Leisure sector encompasses hotels, restaurants, t… |
| Real Estate | The Real Estate sector encompasses activities related to the developm… |
| Retail | The Retail sector is a dynamic industry focused on the sale of goods … |
| Transportation and Logistics | The Transportation and Logistics sector is a critical component of gl… |
Strategy
| Name | Description |
|---|---|
| Customer Acquisition Strategies | Attracting new customers involves various tactics like ads, social me… |
| Market Expansion Strategies | Growing your business by entering new markets involves research, adap… |
| Pricing Strategies | Setting the right price involves balancing profitability and customer… |
Sub-strategy
| Name | Description |
|---|---|
| Market Penetration Strategy | Increasing market share for existing products through tactics like co… |
| Competitive Pricing Strategy | Setting prices based on what competitors charge to attract customers … |
| Discount and Promotional Pricing Strategy | Offering temporary price reductions to boost sales and attract custom… |
Technologies
| Name | Description |
|---|---|
| Ecommerce Platforms & Marketplaces |
Channel
| Name | Description |
|---|---|
| In-Store | In-Store marketing involves promoting products or services directly w… |
Sub-channel
| Name | Description |
|---|---|
| Amazon | Amazon is a go-to for businesses aiming to boost sales and brand awar… |
| Etsy | Etsy is a great place for creative entrepreneurs to sell unique, hand… |
| Retail Media Networks | Retail Media Networks let brands place ads directly within online ret… |
| Walmart Marketplace | Walmart Marketplace gives sellers a giant platform to reach millions … |
| eBay | eBay is a popular online marketplace where businesses and individuals… |
Quick Facts
Channel
In-Store
Advertising Type
Display
Difficulty Level
Intermediate
Estimated Cost
Medium
Time to Impact
Short (Weeks)
Tags
B2C
Paid
Pros
- Immediate boost in sales: Aggressive pricing can lead to an instant increase in sales volume as customers are attracted to lower prices.
- Increased market share quickly: By reducing prices, businesses can attract customers from competitors and expand their market presence swiftly.
- Clear competitive edge: Dramatically lower prices can provide a noticeable advantage over competitors, driving more traffic to your offerings.
- Customer acquisition rates improve: Lower prices can attract first-time customers who are trying your brand for the first time.
- Stock clearance: Helps in selling off old or excess inventory quickly, freeing up space for new stock.
- Builds customer database: Promotions can help in collecting customer data which can be used for future marketing efforts.
- Enhanced visibility: Promotions often lead to increased mention in social media and other channels, boosting overall visibility.
Cons
- Reduced profit margins: Lower prices mean decreased profits per unit, which can impact overall profitability.
- Temporary customer loyalty: Customers attracted solely by price may not remain loyal once prices go back up.
- Brand perception: Constant promotions can lead to a perception of lower quality or a discount brand.
- Competitor reactions: Competitors may also lower their prices, leading to price wars that can hurt all involved.
- Operational strain: Handling increased customer demand may stress logistics and operations.
- Customer expectations: Once customers experience lower prices, they might expect similar deals in the future, making it hard to revert to original pricing.
- Limited differentiation: Competing on price alone reduces the distinction of your brand in the market and can commoditize your offering.