How do you bring in customers?

How do you bring in customers?

1. Busy gas stations do it by selling petrol at a loss, so customers could buy stuff at their convenience stores.
2. Busy supermarkets do it by selling milk at a loss, so customer could buy their more profitable items.

The strategy:

1. Sell an enticing item at a ridiculously low price (either where you're selling at a loss or no gross margin).
2. Bring in customers to sell more profitable items.

Just copy how american electronics firm Fry's or IKEA promotes its Stores.

Frequent Fry's/ IKEA Electronics promotions:

1. Hot dogs and Coke for £1.
2. Ice-cream for 25p.
   

End Result:

Greater exposure to their customers = Customers have greater exposure to their products = Customers happy after getting a cheap hot dog, feel they have saved so are willing to spend

The Golden Belief of Marketing:

• The more exposure you have to your target market the more you will sell.

How should we do it?

Creativity thrives here. Examples:

1. Sell at a loss, to upsell more profitable items.
2. Sell at a loss, to generate a recurring customer.
3. Offer a "basic" version at a loss, to sell a more premium version.