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Good Question.
As per current Market situation it is the reality that most products especially in FMCG type of Sector where there is1000's of products selling identical products.
Thus, to differentiate your sales & position the product with it's any unique feature (For Example:0% cholesterol, fat free, Gluten free etc) would be ideal.
Along with it the important parity would be availability, merchandising, proper display, ensuring that the OOS (Out Of Stock situation) never arises, best level of display, reducing the gap of universal outlets (Total Outlets available in a country vs Outlets where your products are selling), carrying out BTL activities to attract & retain existing & new customers, carrying out brand building ATL activities to create long lasting differential image for the brand would be critical for the companies existence or success or failure of the BRAND.
:-)
Train very well your Sales Team, focus on the USPs of your products (always there are some) and offer outstanding services (unique experience) to customers. Then, you will improve your NPS and you are going to have more loyal customers who will recommend you and bring new customers to your organization.
Thank you.
Excite your customers through a new launch, an offer or a cooperation with a VIP. For example H&M apparel retail company in Europe have as main competitors the Inditex company so they use 'Conscious Collection' campaigns to offer a different product to those concerned with fair trade, they collaborate with big main stream designers to create a one off limited collections therefore inviting new customers, they have their own magazine where they offer styling advice, news and blogs of what is trending whilst advertising their collections. It is important to offer good service, positive attitude and keep your customers interested.
Customers are very expensive to attract and that is why smart businesses focus on a customer’s lifetime profitability (CLP) rather than on a one-off purchase.
Meaning that they place more emphasis on building an enduring relationship with their customers rather than on making a sale. They have realized that it is wiser to have their customers for life.
Sir, when you have the same product that has the same attributes and same target customers, you can enhance your sales by offering extra special offers to the customers that will attract more of them. Also, you can convince the customers' lobby with the best in class after sales service. With due respect, we can enhance our growth with special presentation skills that would get the customers emphasized by our perspectives and our views behind the product.
Thank you.
1- Stand from the crowd by well presenting ALL of your products attributes, as customers don't always know it all. And be confident (Interpersonal skills)
2- Develop loyalty programs. (Marketing)
3- Enhance your after sales services. (Customer Service).
4- Find other uses of your product and encourage your loyal customers to consume more. (sales)
Its about the service. When everyone has the same offering, then your are in the commodities business, which by default can only be differentiated by price.
One way to move away from purely price based competition is to improve your service levels. By engaging with your customers on a deeper level (through better relationship building/management), try to establish what your customers are looking for to add real value. It could be that they are supplying your product into/using your product in a time critical industry where delays cost them money (for example assembly lines, food manufacturing, oil and gas, healthcare industry). Be the first to ask them for usage forecasts so you can build them into your supply chain, eliminating stock outs. You may need to invest more in stock, but it is still better than letting the customer down and then having to win back the business from the competition by undercutting them and ultimately destroying your profit margins. Companies that compete purely on price are only around until someone cheaper comes along. By offering a better quality of service, you can insulate your business to some degree from this destructive cycle.
same attributes and same target customers as your product, but simply not the same sales person.
Create a healthy environment,use your sales skills, motivate your client and build long term good relation with him.
loyal customers will buy from you even if the competitors have better attributes.
The Sales environment plays a major role in enhancing the sale of a product. Good sales people with a friendly communication, after sales service, regular follow up with leads, lead generation through cold calling and a good ambiance in the store will effectively enhance sales of the same product.
Enhance the Aftersales, CRM & CSI which are catalysts for optimum Product dominance. Today good service & support to your existing customers will influence product brand value.
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