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Discount is Killing Your Business

My Class Marketing
on
26/04/2021

Yups you heard it right! a discount that too often given out to customer can kill your business.

For some reason discount can help your business to generate sales a little bit more higher than before but you will get side effect by doing that if...

Impact of giving out discount too often

Customer will waiting for discount before they buy

It may a good idea to have a waiting list of prospect or customer to buy a product at a time. But what happens if all of your customers just buy your product when only a discount appear? It hurts that the fact you got less profit than the normal price that you should sell even though you have more customer.

To play with discount remember to offer additional product related to promoted product so that instead of customer buying only one item they would probably buy 2 or more products in a single purchase.

Effecting Market Price of the Product/Service

You see if I give you one analogy that if the normal price of the product was RM 129 but you're selling RM 99 just to win over the customer because you're cheaper. You think that you win over your competitor but actually, you lose in term of profiting. What happens if your competitor successfully sold the same amount of product like yours? For sure your competitor win over the profit.

Some customer may think you're cheaper because the quality of the product is not good as your competitor even though the product is actually the same. A business owner should learn how to market a product online rather than playing with the price that may kill the business.

Customer Will Leverage

Because customer already knew that you will always be giving out discount they just need to wait another day for promotion. If that particular month your business doesn't have any promo, it may affect your rate of closing sales for that month. Thus, you lose a customer.

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