Dealing with price wars from the perspective of promotion

The price war is probably not a stranger to any marketing person. It makes many companies talk about it, so how should companies deal with price wars?

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Analysis from promotion activities

1 Adopt a distribution and promotion strategy. Enterprises can choose competitive distribution channels according to their own characteristics to gain competitive advantages and even cost savings. In this way, enterprises generally can achieve the leading position in the competition without considering the price reduction strategy. If they face the low-price competition of competitors, the enterprises with advantages can still obtain more profits even if they use the price means to fight.

2 Conduct effective marketing campaigns and promotions are essential. Its main purpose is to promote market understanding of products and thus promote product sales. Promotional means include advertising, sales promotion, sales promotion and publicity. For a current company, the question is not whether it should be a promotion, but how much it should be spent on promotions. The authenticity of the promotional means is also very important, so as not to affect the reputation of the company.

3 Develop a reasonable product price. When companies participate in price wars, try not to adopt direct price cuts. It is best to increase the rebate and promotion methods so that enterprises can have more mobility at the end of the price war. In addition to considering its own cost, scale, profit, investment recovery period and competitor's price, we must take a long-term view and fully consider whether it will directly or indirectly trigger the "price war" and other factors, so as to adopt the correct price strategy. Develop reasonable product prices.