No regrets ninety-two

Chapter 832 The Strategy of Raising Prices

Raising prices is a double-edged sword.

On the one hand, enterprises can guarantee their own profits by raising the prices of commodities.

On the other hand, if the price increase strategy is not appropriate, it is easy to lose customer satisfaction, which will lead to a decline in product sales, thereby reducing the overall profit of the enterprise.

Generally speaking, raising prices is a big risk. Unless it is absolutely necessary, companies generally seldom raise prices for their own products.

But Wu's companies have to prepare for a price increase this time.

Based on the experience of his previous life, Wu Xiaozheng knew that the increase in raw material prices this time was really too great.

The price increase is strategic.

In later generations, whether it is raising or lowering prices, it is a big question in marketing.

In many cases, the strategy of raising prices is used correctly, and it may also greatly increase the sales of goods.

Now Wu Xiaozheng is going to use this opportunity to impart some experience in this area to everyone.

"There is skill in raising prices."

"The first technique is to lend out new products and raise prices."

Seeing Wu Xiaozheng turned on the class mode again, many people picked up pens and paper again and started to record.

Anyone who is familiar with Wu Xiaozheng's model knows that once he gives lectures, many things may not be learned from books or other trainings, which are very useful.

Wu Xiaozheng began to talk freely.

Lending new products to raise prices is a very common way in later generations of marketing.

There are many ways to launch new products, of which there are two main ones, one is to renew the packaging, and the other is naturally product improvement, but more often the two ways are used together.

If it is just a single new packaging, it is often accompanied by changes in the weight or capacity of the product.

For example, the original 300ml bottle is now changed to a 250ml bottle. The packaging is more beautiful, but the price remains the same.

This is a price increase in disguise.

And if the two methods are used together, the means will be different.

"New formula, new taste, new packaging, more delicious than just a little more."

Similar advertisements can often be seen in later generations.

In this way, the weight or capacity of the product often remains unchanged, but the price is directly increased.

"Let me give you an example, just take the winery as an example."

"It's very simple for a winery to raise the price. For example, if you work harder on the old rice, improve the blending formula a little, then change to a new packaging, and directly come to the new version of 93, you can raise the price in a grandiose way."

Mi Qinghe immediately laughed when he heard this.

"Boss, you are amazing. You seem to know that I am going to launch a new formula. I originally thought about using the new formula in production as soon as possible. Now it seems that I can wait for the opportunity first."

Li Xiangyi also laughed.

He knew that as soon as Wu Xiaozheng came up with this idea, and Mi Qinghe had already prepared a new recipe, the problem of raising the price on the liquor company's side would be solved, and now he only needed to prepare new packaging and wait for the right time to raise the price.

But he didn't interrupt, the most important thing is to listen to the class now.

And Wu Minxia and Liu Zhijun are also thinking about the price increase plan for the food processing factory.

According to what Wu Xiaozheng said, this solution can also be applied to the products of food processing factories. The question is, is it to increase the price in a disguised form by changing the capacity?Or keep the capacity unchanged and directly raise the price?

This also needs to be carefully considered.

"The second technique is to increase the price with gifts."

This is also a common way of raising prices in marketing.

Generally speaking, it is difficult for customers to accept price increases, but if the price increase strategy can give them the feeling of taking advantage, the result is quite different.

For most consumers, they are not interested in cheap products, but in products that make them feel cheap.

And the accompanying gift is to give them the feeling of taking advantage.

This is very beneficial.

On the one hand, the price of authentic products is increased, but with gifts, the overall value will make consumers feel that the price is more cost-effective than the original price, and they will have the desire to buy.

On the other hand, during the purchase process, they accept the new price unknowingly. After a period of time, canceling the gift will only make them feel that they can't take advantage of it, and ignore the fact that the price has increased .

Now Liu Zhijun was excited.

"This is a good way! There are so many products in the food processing factory. When the price needs to be raised, some gifts will be specially packaged, and the price will be raised by buying one get one free, and the problem will be solved."

That's right, he was still worrying about how to increase the price of the products of the food processing factory, but now he feels that this method seems to be more suitable than the previous one.

Of course, the two methods can also be used together.

"The third trick is to count down the price increase."

This is also a common price increase technique.

Generally speaking, if the price increase of the product is due to the increase in the price of raw materials, most customers still understand it, but they need a period of time to accept the price change.

The countdown is to give them a process of adaptation.

Moreover, in this process of adaptation, they are likely to be prompted to increase consumption.

This is because it will make consumers feel that they can take advantage of it if they spend before the price rises.

Therefore, the price increase technique of countdown, like the gift method, often triggers a wave of panic buying.

"Note that the price increase method of countdown can often be combined with the step-by-step price increase method."

"For example, Chef Wu's restaurant plans to raise the price by [-]% in ten days. From today, the new price will be adopted, but with a [-]% discount. Tomorrow, it will be [-]% off, and the day after tomorrow, it will be [-]% off, and so on. , ten days later the goal was achieved."

Ye Xingyan also smiled with satisfaction.

The technique Wu Xiaozheng just mentioned is equivalent to pointing out a very clear idea for the price increase of Chef Wu's restaurant's dishes. He only needs to think carefully to solve the problem of price increase in the restaurant.

However, Wu Xiaozheng reminded him additionally: "For the price increase of the restaurant, it is best to contact Boss Rao in Yuloudong through silence. Although the Catering Association has not yet been established, it already has influence. If the well-known restaurants in the city The boss can sit together and discuss it, and if everyone raises the price together, it will be safer."

Ye Xingyan was overjoyed again.

Wu Xiaozheng gave him another way of thinking.

Moreover, he thought of not only Yuloudong, but also Zhengjia software.

You must know that the cashier system of Zhengjia Software has bought many famous restaurants in Changshi, and this internal relationship can be fully utilized.

Once the three skills come out, it is equivalent to the three companies under Chef Wu, all of which have a clear idea to solve the problem of price increase.

Wu Xiaozheng started to make a summary.

"Attention everyone, no matter what price increase strategy and technique is adopted, one thing must be done, that is, to advertise in advance, and to inform consumers that the reason for the price increase is due to the increase in raw material prices, and the company has no choice but to do so."

"As for what strategy each company should adopt, everyone should improve it by themselves based on this idea and come up with a feasible plan. Please do one thing, that is, to strive for this opportunity of price increase, not only will not affect the sales of products, On the contrary, if it can trigger a wave of panic buying, that can show that your plan is excellent."

Price increase is indeed a double-edged sword, risks and opportunities coexist.

But a smart operator can turn risks into opportunities through correct marketing strategies, and make the company's sales rise to a higher level.

Wu Xiaozheng has pointed out the direction for everyone. Next, it depends on whether everyone can come up with an excellent plan.

This is a test for everyone.

(End of this chapter)