Creating a product advantage and how it can help increase your sales…

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Starting and running a successful business isn’t always an easy task, in fact most of times, it is very difficult to start and grow a business to become successful. While it is exciting to start and run a business. It is important to know that there are a lot of factors that come into play when it comes to growing a business into a successful business. Sales is one of the key factors that determines if a business will be successful or not and as we all know, the more sales a business makes, the more it grows…

A lot of businesses utilize various strategies to make sales and one of the main strategies is creating a product advantage and giving the customers reasons why they should choose them over their competitors. This isn’t as easy as it sounds as there are competitors who will copy your efforts and try to take customers away from you. This is where you need a sustainable advantage, something that will help you cement your position in the minds of your target customers before competition begins to creep in and enter the market.

There are various ways and strategies in which a lot of businesses have utilized to create that product advantage over their competitors… Some of the main ways that businesses use to create a product advantage are as follows;

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Value: This is self-explanatory as a product that is seen as more valuable or has more value will appeal to the customer more than products with less value. This isn’t rocket science, this is just how things are. People are more drawn to things that valuable to them and as always, no one likes to throw their hard earned money away, so customers will rather spend their hard earned money on products that offer more value.

Price: This is also a very effect strategy to gain product advantage especially if the product is good enough. While price can somewhat be misleading – as people tend to associate higher priced products to better quality. While this is true to some extent, as it takes more resources to create high quality and high end products… However, this isn’t always the case as it has been proven time and time again that not every product that is priced high is good enough, in fact, some low priced products have shown to sometimes out perform some high priced products. Having the balance between quality and lower price is great at that can drastically influence the buying decisions of customers in your favour which in turn leads to more sales.

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Appearance: how the products looks is also a great way to gain the much-needed product advantage over competitors. The better a product looks, the more attractive it will be to customers and the more attractive a product is to customers, the higher the chances that customers will buy that product. It is as simple as that. In business, numbers matter a lot. The more a product attracts the attention of a lot of potential customers, the more likely that the product will be bought.

There are so many ways that a business can gain product advantage over its competitors. I have just only scratched the surface of the large pool of strategies and ways that can be used to gain product advantage in the market. When it comes to staying ahead of the competition and increasing sales, it is very important to put a lot of focus on gaining that much-needed product advantage over your competition - as the more your products are above your competitors, the more likely your potential customers will choose your products over your competitors’ and the more products are chosen, the more sales you will make.



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3 comments
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Excellent everything that can help increase our sales is fabulous, greetings and thanks for sharing. Greetings and thank you for this publication.

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