1. Cross-sell more products Some organizations focus on selling more products to the same customer. This strategy works well for office supply companies and banks, as well as online retailers. By increasing the amount of product sold per customer, you can increase the average cart size. Even a small increase in cart size can have a significant impact on profitability, without having to spend money to acquire more new customers. 2. Most innovative product or service Many companies, particularly in the technology or automotive space, are distinguishing themselves by creating the most cutting-edge products. In order to use this as your business strategy, you will need to define what innovative will mean for your organization or how you are innovative. 3. Grow sales from new products Some companies like to invest in research and development in order to constantly innovate, even with your most successful products. 4. Improve customer service This can be a good business strategy if your business has had a problem delivering quality customer service. Some companies have even built a strong reputation for having exceptional customer service. Usually, companies have a problem in one specific area, so a business strategy that focused on improving customer service will usually focus its objectives on something like online support or a more effective call center. 5. Cornering a young market Some large companies are buying out or merging competitors to corner a young market. This is a common strategy used by Fortune 500 companies to gain an advantage in a new or rapidly growing market. Acquiring a new company allows a larger company to compete in a market where it did not previously have a strong presence while retaining the users of the product or service.
pentareddy n Founder and c e o of pentareddyn.com
Who Am I? I don’t know who I am. Neither you know who you are, or, do you? really?! You simply associate your past memories and think that it’s you. Think about it for a moment. Okay, that may sound weird, so let me tell you who I am. I am one of the billions. I am stardust, gathered and showing up in human form on planet earth for a short while. Well, you are no different than me in that aspect. Hmm, but you are not here to read these spiritual views, isn’t it? 😉 WELL I'M PENTAREDDY N FROM KARNATAKA INDIA volunteer and global BUSINESS CONSULTANT! DIGITAL MARKETER! global IT CONSULTANT, LIFE COACH! , Blogger, & MOTIVATION SPEAKER AND Freelancer! Helping Indians to choose right credit cards, pick right offers and enjoy luxury vacations for less. Day & night exploring the spiritual reality of our human existence.
You must log in to post a comment.