quality or appearance??
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yupz..but people go for cheap and good quality bags.. that would be so difficult to get.. demands anr too high..while demands for good quality bags decrease alot..
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Aiyoh....now you ask me about marketing.Originally posted by jos1326:wow.. you really am good at seeting people minds at ease.. but now i have got a problem.. i have some extremely good quality bags.. and the price is not more than $130.. it is a sling bag with many compartments which is specially designed for street wise.. the bag is made of high quality cloth water proof.. what should i do with them.. they cost more than 80 thousand US dollars.. i am so puzzled and lost..
But marketing high-end products (especially if the brand is yet unknown) its not a field I specialise in leh. Furthermore, I've never been in the retail business. But I'll give it a shot anyway ok? (Please don't believe everything I say though....check with some other experts first before following any of my advice).
Obviously, advertising helps for such high-end products, but it would blow your budget, considering that your stock is only US$80K.
Planning stock, working with credit terms, getting goods on consigment are all necessary skills in the trading business. I'm tempted to assume that your cash flow is affected, so I wanna say "dump stock" and get your cash back first....but thats just my way of doing things.
What about some customer education? You keep saying that the bags are good....but how do people know what constitutes a good quality bag? I mean to the common crowd, we look at a bag.....and we see a bag. All customers will want to get a worthy deal....and the only customers who think that a deal is worth it are the ones who understand that its worth it.
If you have regular customers, how about using these high-end bags to overshadow the rest, temporarily? Display these high-end bags prominently to catch attention and sort of hide the rest away in the corner for a while. (The danger of doing this is that you may not get any sales at all).
How about special offers? Offer two for one....like buy an expensive bag and get another one (cheaper one) at a reduced price. I'm not sure if you can do this without losing money though....
Have you tried expanding your customer base? Advertise on the internet (eg. e-bay or some other classified ads site) and you may get some curious overseas customers who may take up one or two. If you do advertise on the internet, remember to shoot a PM to FireIce
Do you have other friends or contacts who are in a related business field? Perhaps you can pass to your friends a few bags each (probably on consignment basis) and let them display in their shops - at other locations. This will increase your product exposure.
Sometimes warehouse sales work too. I know of some companies which advertise warehouse/clearance sales....and they claim that the stuff was originally $260, but their selling them for $130 now. It actually helps to sell a few things here and there.
If you know which group/type of customers will go for it, then perhaps you can shoot your missiles their way. For example, try to find a way to get the target group to be aware that you're selling these products (eg. tai-tais, sportsmen, whoever else).
If you are in good terms with your supplier, maybe you can exchange some of them for other cheaper (ie. easier to sell) bags. You can also check with them on how their other distributors sell these bags (how they advertise for it, what kind of target customer group buys them, etc.).
I'm not sure if your store participates in the Great Singapore Sale....but it is coming soon and it will encourage people to attack the stores which participate in them. This might be against you.
I don't know what else to suggest....
(If anything goes wrong, don't blame me hor....). -
The best material bag which i've seen and used is Crumpler.Originally posted by jos1326:i don't dare to bring in the new product yet.. but i have used it.. infact the first singaporen to use it.. i think it is very good.. lasted for 6 months in my trial period and still in good condition.. the quality is seriously high so is the cost of making it.. i have not thought of a way to bring it in yet.. cause i know that it will be rejected becaus of the cost.. any idea pal?
Mine lasted for two years and it's still VERY GOOD and still in GOOD CONDITION. Crumpler's quality is seriously high so is the selling PRICE.
It's not uncommon to see good quality bags walking around.
It's not uncommon for people to purchase bags which others consider overpriced.
Give a thought why crumpler products cost so much?
There's a reason why it's expensive and why people still buys it.
Think think think...
Cheers -
I would say that your present customers are either:Originally posted by jos1326:yupz..but people go for cheap and good quality bags.. that would be so difficult to get.. demands anr too high..while demands for good quality bags decrease alot..
(1) Not the right target group for you, and/or....
(2) Are potentially the right target group, but they don't have the skills to make the 'right' purchase judgements yet.
You may have to work on these two points first (further product exposure and customer education). -
well..thanks alot.. you all have certainly helped me alot.. eh.. if got any tips can tell me ma? thanks alot..
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Sollie....no more ideas liowOriginally posted by jos1326:well..thanks alot.. you all have certainly helped me alot.. eh.. if got any tips can tell me ma? thanks alot..
But when you become rich selling those bags, you can hand me some tips lor. Tips equivalent to 25% of revenue enough liow. 
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Er....sorry, sorry....I assume you were referring to me?Originally posted by jos1326:well..thanks alot.. you all have certainly helped me alot.. eh.. if got any tips can tell me ma? thanks alot.. -
hahaz..hopefully you all will provide me with more of your views and tips..
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there are tips la. But you just want input and don't want to output.Originally posted by jos1326:hahaz..hopefully you all will provide me with more of your views and tips..
How to help?
Gentlerock only touched on the tip of the ice kachang.
BTW, GR your penguin gif file damn cute leh.
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hmm.. i welcome all your tips !!Originally posted by M©+square:there are tips la. But you just want input and don't want to output.
How to help?
Gentlerock only touched on the tip of the ice kachang.
BTW, GR your penguin gif file damn cute leh. -
Any body have got any tips and marketing strategies?
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I collect handbags & will go for quality & workmanship.
Don't mind paying high price cos they are very lasting.
Some of them have appreciated in value.
I also will look at the design, prefer leather bags with diff. compartments, diff. designs to suit diff. occassions. -
thanks alot.. but what about street bags.. with different compartments specially designed for street wise.. for needs of many people.. made in japan..made of high quality cloth that is water proof.. how much do you think the price would be appropriate?Originally posted by gerrykoh:I collect handbags & will go for quality & workmanship.
Don't mind paying high price cos they are very lasting.
Some of them have appreciated in value.
I also will look at the design, prefer leather bags with diff. compartments, diff. designs to suit diff. occassions. -
Humans are often more visual creatures.. You can see how a thing looks like often from 1st sight, but you probably can't see through its quality the same wayOriginally posted by jos1326:hey guys... i just wanna know why do people always go for appearance of an item rather then the quality?
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thanks but do you have anyway to make my bags saleable? other than reducing the price and good advertising?Originally posted by Devil1976:Humans are often more visual creatures.. You can see how a thing looks like often from 1st sight, but you probably can't see through its quality the same way -
hello!! anybody can help me?