We may not have notice it, but the world has been competing it’s way to
be the most powerful business organization. One of the entrepreneurial
strategy is the ability to lure people using the price and promotion of a
product. Promotion is the ability to persuade others to patronize their
product, it is a win-win strategy. Wherein people will buy your product and
they will get something beneficial in return. If there won’t be a marketing
promotion, then no one would recognize your product and you’ll end up in
bankruptcy which is not good, as you could lose billions of money.
On the other hand, price is the representation of the value’s assessment
that the customer could gain something from the product. This is whether the
customer is willing to pay the product or service.
The process of buying and selling is when there is a need of it that can’t
be produce manually, and these is something the human kind is living for.
Both price and promotion is significantly parallel to each other, as the
consumers often take attention to a cheaper price after it is advertised. If you
would try to promote your product, the message of it should be notable and it
highlights the product’s goal.
Reasonable prices differ a lot, especially if the product’s raw materials can
be purchased locally. I get the point that you want to earn money, but be
sensitive and put your shoes on the consumers and think about how they
would feel if your product is expensive and the quality is not good.
In the business world, what matters the most is the need of the target
market. Try to do a research in pertaining of sustaining their needs, because
this would give you a clue to where you are going to address your proposed
service and product.
All in all, both pricing and the promotion you do, matters a lot to the
consumers. You are persuading them to buy, so be sure that they won’t regret
it so that you’ll be successful.