How to expand sales markets
Video: 7 Tips To Increase Your Sales | Customer Loyalty | Dr Vivek Bindra 2024, June
Most business sectors are held by recognized leading companies that have taken control of the relevant part of the market. The list of such companies includes General Motors automobile manufacturing company, IBM (computers), McDonalds (catering), Xerox (photocopying equipment), Gillette (razor blades). The market leader should always think how to expand sales markets, how to find new consumers and how to increase the frequency of use of their products.
Instruction manual
1
New users
The main goal of any company is to attract a new segment of users who do not own information about a new product, its characteristics, quality and absolutely do not want to buy it. For example, Johnson & Johnson has made great strides in educating a new class of baby shampoo users. At first, their shampoo was aimed exclusively at the children's category, but after the birth rate began to fall, the company began to suffer losses. Marketers noticed that adults often use this shampoo, so it was decided to develop advertising aimed at an adult consumer. Thus, Johnson & Johnson baby shampoo has become the main brand in the market among shampoos.
2
New Product Uses
An excellent way out of the situation when you need to expand sales markets is to increase the use of the same product, as Du Point, a nylon company, did. At first it was used to make women's stockings, parachutes, and later they began to use it for ladies' blouses, men's shirts, upholstery of carpets and car tires. Often, consumers themselves found new ways to use the product, such as petroleum jelly, was first used only for lubricating mechanisms, and then began to be used as a styling agent and as a skin cream.
3
Increase Product Usage Frequency
The third rule for expanding sales markets is to increase product use, for example, if a cornflake company advertises them not only as breakfast food, but also for lunch and dinner, their sales will instantly increase. For example, Procter & Gamble convinced customers that shampoo would be more effective if applied twice as much at a time.
