I don't believe in price war. I don't want to position my company as one of the lowest prices ones in the market.
Simply put, I have put a lot of care in selecting the right kind of customers for my business.
And here's my story:
And here's my story:
When we first started the business about a year back, we were feeling our way around and once in a while, we receive feedbacks from customers that they spot similar products priced much lower than our brand's.
Initially, we were concerned and worried that these lower price items will hurt our business. We tried to match the prices whenever we could and sourced from cheaper alternatives.
Later, we realised that we wouldn't want to compromise on the quality of our products and the way to go is to build a reliable brand name for ourselves.
This, we did. Today, I am happy and proud to say that our customers consist mainly of those who appreciate our designs and value good customer service. They are willing to pay a little more for the whole package and to have a better shopping experience.
Not having to compete primarily on price, I can focus better on giving the best value to my customers. Also, I don't have to spend my time with customers who haggle for a long time over pricing, like I used to do previously.
It certainly is more enjoyable to focus on great customer service and product quality than to handle a customer who keeps asking for more discounts.
Now, who are your target audience? Share with me your thoughts on this. ;)
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