9 RISKS FOUNDERS WILL FACE WHEN BUSINESS PLAYS ON PRICE

[zihadhasan010]

Do you want to follow your competitors in price? Because you're afraid that if you don't, customers won't buy? What will be the effect on your business? Then, your business could collapse?

BE CAREFUL IF YOU WANT TO PLAY WITH PRICES!

FACT – Many businesses play with prices, making it difficult for their businesses to survive in the market.

Eh, right? Wouldn't it be better if we sold it cheaper, lower, and more people would come to us?

There is right, there is also wrong..

Whatever, try to see first the 11 risks if you play with excessive prices.

Table of Contents
#1. Competitors Also Play With Prices
#2. Reduced Profit Margin
#3. Brand Value Menurun
#4. Brand Image Terjejas
#5. It's hard to create special promotions
#6. Business is difficult to grow
#7. Customer runs away
#8. Brand loyalty drop
#9. Market Saturation Risk
#1. Competitors Also Play With Prices
When you play with prices in business, one thing you have to remember is that this will be an endless cycle!

For example, if you sell products at a low price, there will definitely be other competitors who want to compete with you.

They also want to take the opportunity to attract customers, so they also follow your lead and lower their prices.

Imagine this situation: you sell baju kurung for RM50, then your competitors see that you're selling well, so they also sell for RM48.

After that, there were others whose prices dropped to RM45.

And finally, everyone is busy racing to be the cheapest.

The best part is, it's not just baju kurung, but all types czech republic phone data of products can be affected – from food, electronic goods, to fashion items!

This thing gets worse because when everyone focuses on price, no one cares about quality.

And the loser is you too!

With every price drop, your profit margin will decrease, and operating costs will remain.

When you have to sell at a cheap price, the cost of doing business becomes high.

Another thing you need to remember is that customers who come just because of the low price won't necessarily be loyal.

They can just move on to other competitors who offer cheaper prices, so you will always be in an unstable situation.

So, remember! Playing with prices is not a smart solution.

Instead of running in an endless price cycle, it's better to focus on providing high value and quality.

Satisfied customers will come back, and that's more worthwhile than just chasing a quick profit with a low price.