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How would lowering the price impact your bottom line ? Since a price drop means reduced profit margins, choose a product that will sell well and offset the lower margins.
How did you position your brand? If you're a bargain ukraine mobile database brand, more products could benefit from price drops. If you manage an exclusive brand, exclusive price drops are in order.
Consider these factors and you will see that there are three broad categories of products you can reduce:

Products in high demand – if you have highly sought-after products in your inventory, you can capitalize on customer interest with price drops;
End-of-life products – old collections, older models, anything that can go out of style can be quickly disposed of with markdowns that help you streamline your inventory;
Perceived premium products – lowering prices can increase perceived value and increase the audience you attract. Beware, unreasonable price drops could alienate value shoppers.
4. Competitive Analysis: Understanding market trends and competitor pricing strategies
This is the final ingredient to successfully implementing price drops into your strategies. Which includes:

Analyzing competitors' marketing strategies to adapt to ever-evolving customer behavior, including buying patterns and market changes. It helps you discover market gaps you can fill with your offers. of products.
Analysis of competitors' pricing strategies – from pricing models to the discounts (fake or real) they use to attract more customers. You can compete through promotions, product bundling, loyalty programs, etc.
Considering your competitors' market positioning – are they based on value propositions or ongoing promotions, are they the bargain shopper's favorite place and where do you fit in?
All of this helps you find a place for deals and price drops. Below, we'll see where and how you can carve that spot.