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Marketing Strategies 101: Minimal Cost Strategy

by blackhawkup Banned
2 replies
Hi all Warriors.

I want to start posting some awesome marketing strategies that you might be interested in.

So strategies might not be for your business model but maybe one or more will be. But the overall goal is to teach and educate you all on some of the different ways you can maximize your marketing efforts.

Today is going to be about
Minimal Cost Strategy

This strategy basically allows you to take up market share by offering your product at a cheaper price.

Now this can work two ways.

  1. if you offer poor products at a cheap price that more than likely will have an adverse effect on your business. By lowering the price you have already made the value perception lower. So if the product is of poor quality this will only reinforce the initial perception of value that was held. This is how you get "Negative Word OF Mouth Marketing" ...Stay away from this.
  2. You can offer a product at a price that is cheaper than your competitors. But the value is as high or higher than the product value of your competitor. Now you are building a loyal customer base, who trusts that they can always get good prices with you while getting similiar quality of the more expensive one.
So although the minimal cost strategy can have its disdavantages..i will also say that it can really explode your business.

Have you noticed that some people sell free WSO's...it's a market share technique, that only works when the OP offers a WSO of high value and customer need/want.

I'm sure there are many ways that you can implement this strategy into your business. Just get creative with it.
#101 #cost #marketing #minimal #strategies #strategy

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