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be much better off if you can successfully promote long-term supply contracts for your product. But before you can do it, you have to embellish your offer with brand-building values that address compelling customer needs, wants, and desires. Some of the more credible ways of doing this may take the form of stretched warranty period, price protection policy over the over the life of the supply contract, 100% money-back guarantee or total replacement for defective items, transfer technology, automatic upgrade, and 24-hour service response time. With this marketing strategy, you can reduce account acquisition cost, lock in the patronage of your major customers for an appreciable period of at least three years, and fortify the competitiveness of your product, making it difficult for key competitors to follow.

6. Expand your sales army, by tapping contractual distribution channels.

Many people now seek additional sources of income to make both ends meet. This is exactly the reason why there exist millions of part-timers, people who settle for commission-based selling job apart from their regular work. You can ride on this market trend. Build a crack team of independent sales contractors on top of your regular salespeople. Except for training and marketing collaterals, you do not spend anything until they close a sale, but they can stimulate your revenues in dramatic proportion. Personal care products, water purification system, and kitchen ware companies have been very effective on this marketing design. You can also motivate your non-sales employees to do the same during their free time, with the help of their families.

After having done all the prescribed Marketing initiatives, never forget to evaluate the results of your effort. Quantify and qualify from the perspective of product, price, promotion, and place, including people and processes. Use the 6P's, instead of the 4P's of Marketing. It helps to be holistic nowadays.

Learn more about this author, Ronald Manalastas.
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