Your Online Business Revenue : Upselling And Cross Selling

Recommendation – To improve revenues and margins, the company will have to increase the revenue contribution of every product category. I recommend that the company go into its customer requirements and see if it can cross sell product items, so that it can get more revenue from each customer. This will ensure that the company is able to offer competitive prices to customers and grow its business using its existing customers.

This is important as the selling organization can know how to improve the demand for their products through promotion promoting the demand for the others organization’s products. This can be achieved by either selling quality products to the other organizations that will ensure that they produce standard products or services that meet the customers’ needs or even coming up with mechanisms to promote the demand for the other companies’ products. For example advertising for the other companies’ products, carrying out the market research for the other organizations or any other activity to boost the sales (Antonelli,

This is where the business will keep the price of a product or service high in order to encourage customer to associate it will high quality.

Increase the frequency of purchases by your customers. No matter how poor your current product or service, you must have some customers or clients. One key strategic dimension that you should be thinking about is how to augment and reposition your product in order to sell more to this group.

Being able to acquire a new market may bring those new customers to their current market.

The market for hybrid cars is changing. There are more providers but due to bad publicity and poor performance, demand is falling.

CVS needs to think through numerous elements impacting its’ business. Pricing strategies, rivals and their current products, consumer demands and suppliers are examples of these elements. For pricing strategies, CVS should consider closeouts, discounts, product bundle pricing, penetration pricing, geographical pricing, and membership or trade pricing.   For non-pricing strategies, options comprise: enhanced service quality, longer opening hours, advertising, and extended warranties (Kimmons, n.d.). By pricing similar products in a different way they must focus on regional demographics because geographic pricing enables the maximization of profit. For promoting unique or new products at provisional price drops, penetration pricing is the most effective.   Finally, bundle pricing and closeouts can be engaged when several

-Increase revenue possibilities with data shared to all sales staff for purposes of network buy cross selling and providing clients with products that fit marketing needs in both print and online.

The press and our customers have noticed the organizations excellent customer service. A article states, “24/7 Customer, a leading Customer Lifecycle Management (CLM) solution provider helped Overstock.com to the # 2 slot in Customer Service among all U.S. retailers. Overstock.com has been rewarded for its exemplary customer service and continued level of excellence. 24/7 Customer has been providing online and chat support to Overstock.com for over four years announced today that it has once again earned the #2 spot in customer service rankings among all U.S. retailers, according to rankings published in the 2010” (Business, 2010). In addition to excellent customer service, another way that they attract customers is by offering a shipping price of $2.95 per order no matter what is ordered. Another main aspect of marketing is search engine marketing. “Over the last several years, Overstock has been competing for traffic with search sites such as Google, forcing Overstock to spend large sums on search engine marketing” (Stock, 2010). They have continued to invest money on search engine marketing to ensure that new customers are able to find them.

A number of hybrid vehicles have been built and tested since 1980. Some of these vehicles have impressed analysts with their performance and low levels of exhaust and petroleum consumption. Interest in hybrid vehicles jumped in late 1993 with the announcement of funding for

Sharing their customers with developing their products build a strong and long relationship between them, and that’s an long term adaptive to the future market where the customers are more involved and they value their services over the prices.

It would only make sense that the company is paying attention to what their customers need, want, and think. If the company is up for it, they will create a loyal customer and a good sector in the marketplace in regards to their products.

Profits on individual sales can significantly increase overtime through product bundling strategy when it is effective. Selling multiple products or components in one solution means a greater initial return on the costs of acquiring a customer. Bundling is sometimes used to as a way to package less

Higher value can attract more customers or increase the profit margin for the value add benefit.

Focusing on one area instead of trying to offer too many products is becoming a more effective way to market. Companies will start finding niches and then position themselves as the definitive source of information for specific products and services (Gunelius, 2010). When marketing too many products it is easy to dilute the market as well as the benefits of each product. When features overlap consumers not only get confused as to the differences but ultimately pick the cheaper one. So the costs to market the higher priced items become a waste. Focusing on fewer products allows for a more valuable product and therefore more effective marketing techniques.