First of all, it is necessary to conduct a market analysis using marketing research tools, such as demand research through WordStat or MPSTATS programs, familiarization with the activities of competitors, feedback from customers to determine the most popular products on the market, which can be obtained by conducting travel agency email list special “deep” interviews for CustDev research, which allows for a better understanding of customer needs.
Once you have determined what products are in your assortment, focus on the most popular ones based on the analysis you have conducted. The right choice of products will help increase sales and meet the needs of your audience.
For cooperation, choose marketing analysts. Professionals in this field will help you conduct a deep market analysis and make informed strategic decisions.
True: A shoe manufacturing company conducted a market analysis and found that demand for summer shoes in certain sizes significantly exceeded supply. It decided to increase production of these models before the start of the season.
Error: The manufacturer does not adapt the production of footwear to changing market needs, not taking into account the demands of buyers by season and size.
How to fix: Systematically track sales data to confirm that your product selection meets consumer expectations.
Download a free selection of tools for calculating KPIs and increasing marketing metrics
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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Over the past 7 years, we have conducted over 23,000 comprehensive website audits and I have learned that all of us as leaders need clear and working algorithms for our marketing and sales.
Today we will share with you 6 of the most valuable documents that we have developed for our clients.
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Step-by-step guide to creating marketing KPIs
Template for calculating KPIs for a marketer
9 Examples of Universal Selling Commercial Proposals
Upgrade your CPs to close more deals
How to make KPI for the sales department so that profits grow by 20% or more?
Step-by-step template for calculating KPIs for OP managers
Checklist of 12 main indicators for website promotion
Find out what metrics are needed to properly optimize your website
40 Services for Working with Blog Content
We have collected the best services for working with content
How to define your target audience without mistakes?
A proven guide to defining a company's target audience
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Choosing a Pricing Strategy
Create a pricing plan that includes competitive prices, promotions, and discounts. Use seasonal specials to stimulate demand. Smart pricing helps attract customers and increase sales.
Who to contact: Pricing consultants can help you develop the optimal pricing strategy.
Example: A nominal company analyzed competitors' prices and reduced the cost of a popular product by 10% in a month. Sales increased by 20%.
Incorrect: A retail company that overpriced its products and failed to respond to market dynamics faced losses due to loss of customers.
To effectively control the situation: It is necessary to constantly monitor competitors. It is important to monitor the prices offered by them and promptly respond to changes in the market environment.
Optimization of product distribution
To do this, it is necessary to ensure timely satisfaction of customer needs and avoid shortages of goods. Implementation of an accounting system such as, for example, the 1C program will allow you to effectively track the availability of products both in stores and warehouses. Proper distribution of goods guarantees availability to consumers and prevents missed sales.
Who to choose as partners: Supply chain specialists will help you optimize logistics.
True: Administrators focused on inventory control and management, which enabled them to ensure an optimal range of products on store shelves and to replenish warehouses in a timely manner.
Incorrect: Administrators are negligent in monitoring the availability of products in the warehouse, and therefore face shortages and a decrease in sales.
How to control the process: Actively monitor stock levels in warehouses. Conduct regular checks of product levels at points of sale.