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What are the different demand drivers ?, e - Coggle Diagram
What are the different demand drivers ?
Website optimization
Wide variety of payment methods enables the customer with safe and secured transactions
The website should be easily accessible
Having a user-friendly online platform will help in boosting the revenue by a huge margin
Introduce more offers that are consumer engaging
An Offer-wall should be introduced where all the latest deals and offers should be updated
Product
Increasing the variety of products would enable the consumers to buy more products, thus increasing revenue
Better quality of products play key role in increasing the sales
Analyzing the reasons for the sales of products
Medium Demand product - Quality-Price factor can be improved
Low Demand Product : Quality-Price factor isn't analyzed or the consumers aren't interested in the product
High Demand product - Quality-Price is optimal for this product and act as the Cash Cows for the retailers
Availability on social media is necessary. It creates a personal connection with its consumers
Customer Care
Customer satisfaction plays a key role in improving sales
Having a good customer care team is essential in increasing the customer experience
Comprehensive knowledge of consumer base
Knowing which product needs to be targeted at to which age group of consumers
Quicker the product delivered , happier is the customer, thus willing to buy more from the company
Price
Lowering the price helps in increase of sales. But we need to achieve the optimal point of the pricing.
Competitive pricing would attract a larger consumer base
Advertising
A good advertising team would be pivotal in the success of a company
Advertisements should be relatable
Have clear Calls-To-Action. Making every step as clear as possible boosts the success rate of the Ad
Having a compelling message is essential as it gives the consumer an incentive to open the page. Using images also help in the success of an Ad Campaign
Include PPC Ads
The company selling their products would pay to have their product advertised on the first page of the search
Perks/Incentives
Customers should be given loyalty points, thereby giving an incentive to shop again
Company certified products should be introduced that will give customers quality assurance and fast delivery guarantee
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