This Is An Ampuh Business Strategy To Accompany Profits

Illustration determines a business strategy (Unsplash)

YOGYAKARTA Entrepreneurs must know various powerful business strategies to apply to their business.

Not only helping to develop business, but this strategy also helps bring profits.

Usually, business strategies will be adjusted to the situation and conditions of the market, type of business, to the capital they have. However, there are also strategies that can apply to all types and conditions. For more details, see the following reviews.

In the Big Indonesian Dictionary (KBBI), strategies have some understanding, one of which is a careful plan regarding activities to achieve special targets. This understanding can also be applied to the understanding of business strategies.

Thus it can be concluded that a business strategy is a carefully drafted plan to achieve a target in the business.

In practice, there are many strategies that entrepreneurs can implement, both on a macro and micro scale, as follows.

Have you ever encountered a product, store name, or anything else related to business activities, which have a unique name? It was done not without reason. Unique product name or business name can be a business strategy by attracting consumer attention. Choosing a unique name is also one of the tips for establishing a company.

Good products are products that answer consumer needs. To meet these elements, a new innovation is needed to make it easier for consumers. For example, you create a fuel saving machine in the midst of a surge in the price of bakar materials. Or you make a delicious menu of food that diabetics can consume.

Endorsement is one of the business strategies carried out through advertising by involving famous figures, influencers, or someone who has the potential to become a trendsetter among the public. This strategy is commonly carried out by various large companies. In fact, many companies are willing to spend big costs on attracting famous figures to promote their products.

This strategy is commonly known as price psychology. This strategy is carried out because certain prices applied in a product will have an impact on the psyche of consumers so that they will make impulsive purchases. For example, coffee will be more attractive to buy when the price is Rp. 14,800 compared to the price of Rp. 15,000.

Packaging or packaging also helps increase the sales of a product. The more attractive a product packaging, the higher the possibility of purchases. This means that packaging can affect the level of product sales. Not only has the potential to sell hard but there could be a potential decrease in purchases. For example, food products with hygienic packaging will be easier to sell than packaging in their behavior.

Digital marketing strategies are now widely applied by large companies. In fact, many MSMEs have succeeded in using digital marketing and have grown to success. This strategy utilizes unique content uploaded on digital social media in order to reach a wider market. With a wider market, sales conversion is even higher.

You can try collaborating with other companies to achieve maximum profits. However, it should be noted that companies are chosen to collaborate. Avoid similar companies. You can choose companies whose products are interrelated. For example, motorcycle companies collaborate with machine oil companies, or food companies in collaboration with beverage companies.

That's a install that can be applied in your business. To get other interesting information, visit VOI.ID.