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Even small changes in your advertising can lead immediately to higher sales. Small changes in the way you promote and sell your products can lead to dramatic changes in your results. Promotion includes all the ways you tell your customers about your products or services and how you then market and sell to them. The third habit in marketing and sales is to think in terms of promotion all the time.
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Be open to the need to revise your prices, if necessary, to remain competitive, to survive and thrive in a fast-changing marketplace. Be open to the possibility that your current pricing structure is not ideal for the current market. In business, as in nature, whenever you experience resistance or frustration in any part of your sales or marketing plan, be open to revisiting that area.
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Sometimes you can include free additional items that cost you very little to produce but make your prices appear far more attractive to your customers. Sometimes you can combine products and services together with special offers and special promotions.
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Sometimes, by spreading your price over a series of months or years, you can sell far more than you are today, and the interest you can charge will more than make up for the delay in cash receipts. Sometimes you need to change your terms and conditions of sale.
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By raising their prices, they may lose a percentage of their customers, but the remaining percentage generates a profit on every sale. Many companies have found that the profitability of certain products or services doesn't justify the amount of effort and resources that go into producing them. At other times, it may be appropriate to raise your prices. Develop the habit of continually examining and reexamining the prices of the products and services you sell to make sure they're still appropriate to the realities of the current market. Is there any product or service you're offering today that, knowing what you now know, you would not bring out again today? Compared to your competitors, is your product or service superior in some significant way to anything else available? If so, what is it? If not, could you develop an area of superiority? Should you be offering this product or service at all in the current marketplace? Prices Whenever you're having difficulty selling as much of your products or services as you'd like, you need to develop the habit of assessing your business honestly and asking, "Are these the right products or services for our customers today?"