The goal of marketing promotions is to stimulate short-term sales. This dictum leads many marketers and small-business owners to reduce prices. However, as Michael Goodman explains, cost cutting is not always the best or most effective way to achieve this goal.
Sound counterintuitive? After all, if the goal is to increase sales, wouldn't cutting prices accomplish this?
According to Goodman, a senior marketing consultant and presenter for a number of MarketingProfs seminars, there are several things to consider before jumping on the price-cutting bandwagon:
Price Reductions Can Backfire
Posted by Becky under MarketingFrom http://www.marketingprofs.com 5993 days ago
Made Hot by: on December 17, 2007 11:49 pm
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“Rachel: Great to hear! Thanks for your kind words! :)
All the Best,
Martin...”
“Thank you, Martin. That's a fantastic motto... and I couldn't agree more!...”
“Lisa: Good to hear! Thanks for your response....”
“For sure, I know I did years ago when I was working for others....”
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