But just be it, look, I’m a freelancer, I’m going to launch my first ecommerce. I’m designing it myself because, look, I found a thousand resources here online. And really Shopify is super easy for me to set it up by myself. Let others test it before you release it Before launching it on the market. Try to test it with a cousin, with a friend, with people, that is. To see if what you think is really easy, and what you think is obvious, is for the user, because many sometimes it is not. It would be another recommendation, do not take for granted that what you think is usable. That what you think is attractive to the user really is, because many times we as freelancers. As business owners or as marketers and communicators are not within the target audience of what we sell.
I would recommend that you look up the “Six Stimuli” theory, the “Six Stimuli”, which really gives you six key points precisely like this, like the reptilian brain, which is the most primitive, the one that really makes the decisions in the human being, he likes tangible things, he likes things in the first person, he likes things that have a lot of contrast Coca-Cola is one of the biggest brands of our time. It has about 43% of the soft drink market and sells 1.8 billion bottles a day. If you are one of those consumers, you may have become bored with the original taste of Coca-Cola. Maybe you want a vanilla cherry flavor. Maybe you want a low-calorie version of the classic soda.
Apply The Philippines phone number “6 Stimuli” Theory
In the case of Coca-Cola, the strategy to reach you Philippines phone number may be Coca-Cola Vanilla. A flavored version of the original product. The objective? Maintain enthusiasm and interest in the brand so that you continue to buy Coca-Cola. Brands both large and small use product line extensions to reach a larger audience and increase revenue. This guide will walk you through examples and tips for creating an extension strategy, so you too can expand your brand’s product line. What is product line extension? What are the advantages of expanding the product line? Difference Between Product Line Extensions and Brand Extensions Examples of product line expansion Tips for Creating a Product Line Expansion Strategy Reach new markets with product line extensions What is product line extension? Line extension refers to the process of expanding an existing product line.
It is when a company with an established brand introduces additional items in a product category . The company uses the value of the existing product to market and introduce new options to consumers. The goal of the line expansion is to satisfy an improved customer segment in the market. What is product line extension? Types of product line extensions: Horizontal extensions , which involve maintaining the same price and quality of a product but changing factors such as color or adding ingredients to differentiate the products. Vertical extensions, which involve raising or lowering the quality and price of a product to create a lower quality or luxury product. Strategies for an extension can be New flavors Different product shapes new colors different ingredients Different sizes New types of packaging These line extensions are often related to products that a brand already produces.
Creating Line Extensions Philippines phone number Solves This Problem
Do you have a business idea? Get started with Shopify free for 14 days, no credit card details required Email address Email address For example, offering a hemp oil variant in a line of lotions or introducing a new flavor to your line of soft drinks. The core product remains the same, but the variant targets a specific consumer using this approach. What are the benefits of product line extensions? Product line expansion is part of every company’s marketing strategy. It is a low-risk way of meeting the needs of various customer segments and can be used as a competitive weapon to increase a brand’s control of the market. Improve brand perception in a low-risk way Line extensions are relatively low risk compared to entering a new product category. You already have a successful brand, so any related products you launch will likely be well received by customers.
Shoppers may already be aware of your brand, but may be waiting for the right products to arrive. The latest findings from the NIM Marketing Intelligence Review have found that high-quality product line extensions improve overall brand perception far more than lower-quality extensions hurt it. Even if a lower-quality product extension reduced a brand’s perception, there were hardly any long-term effects. 8 Steps to turn your ecommerce into a powerful and recognized Brand Here are the 8 keys that you need to apply so that you go from having an ordinary online store to being a “love brand”. Give customers more options Perhaps the most obvious benefit of line extensions is that it gives customers more choice. The traditional view of choice is that it is a bad thing and that having more options can lead to decision fatigue.