The Price War [ Part 1]
by Alfred Ukane (Agricultural Service Provider, Consultant and Technical Advisor)
The desperation to sell and control a larger market share has led so many brands into an unhealthy price competition that has impacted their business negatively.
This is common among products and commodities. As agribusiness owners, we experience this a lot. The desperation of some:
đź“ŤPoultry farmers to sell will make them reduce the price of their eggs or broilers so they can sell off their produce on time;
đź“ŤFish farmers also crash their prices in other for them to quickly sell their fish;
đź“ŤOther agro processors also follow this trend.
The implication is that most of them sell with very little NET PROFIT or NO PROFIT at all. They distort the market and often times quit the business after a while.
This is not the best strategy to deploy if you want to sell your produce quickly and restock. A PRICE WAR favours no-one. You will eventually lose your money and run out of the business.
ONLINE RESOURCES
- How to Sell Value and Not Price: Strategies and Examples [Medium.com]
- Irresistible Reasons to Shift to Value Selling Instead of Relying on Price [David Schoenbeck]
- 10 Principles of Selling Value Instead of Price [NoPressureSelling.com]
- Selling on Value… NOT Price [Miles Croft | Don’t Sell me This Pen]