What You Need to Know About Penetration Pricing

Posted on March 6, 2021 by

Penetration pricing refers to a rigorous pricing strategy used by businesses such as tow truck Tysons va or any other business that wants to enter the marketplace, where it offers products and services at an extremely low entry price. The goal of penetration pricing is to disrupt existing businesses by luring customers away from what they are used to, with the promise of a lower price. This strategy requires companies to slash prices to almost below market value and is usually developed by new businesses in a high-growth phase that is prepared to absorb initial losses. The losses are viewed as a necessary sacrifice to gain market share and entice customers away from competitors.

Penetration Pricing Strategy

A penetration pricing strategy might be effective if a business is new or is trying a different marketplace. The goal is to lure customers away from established competitors, build solid brand loyalty and generate demand for what is on offer. If a business is lucky, it might even push competitors out of business. Penetration strategy offers many advantages. New customers will like doing business with you. This is the case because consumers love good deals, and companies offering penetration pricing are often adored and flocked because of their discounts.

There is also another advantage of long-term gains. This is where the economies of scale come into action. Employing penetration pricing will net high volumes of sales that may offset the lower price tag. Additionally, there is the benefit of market disruption. Offering products and services at low prices gives a new business opportunity to disrupt the market and establish itself as the leader. Customers will begin to wonder why they have been paying so high for the same products and services and give you the benefit of becoming their de factor place to do business.

Penetration pricing also comes with its fair share of cons. In the long run, you will need to raise your prices to stay in business, and doing so might lead to customer dissatisfaction and churn. Additionally, it may lead to a loss of brand value. When you price and market yourself like a discount brand, you will earn a lot of business. But people will start to think of you as a discount brand and this may cause pushbacks the moment you start to price your products higher.

The gamble of implementing a penetration pricing strategy is what your competitors might retaliate. A pricing war will lead to decreased profitability for the market as a whole and this will ensure no one benefits, apart from the customer. You also suffer the danger of inability to raise prices. There is also the chance that when you try to raise prices on your customers, they will not accept the change and may decide to do business elsewhere.

There is a couple of brands that have established themselves but were started on penetration pricing strategy. Notable of them include Netflix, Gillet as well as a couple of internet and cable providers.

Awards You Should Give Out to Fire Up Your Sales Team

Posted on January 15, 2021 by

If you have hard-working employees like tow truck guys always do, one of the best ways to ensure they are fired up is to create schemes for rewarding them. Your sales teams are very important to you and will need to be motivated and fired up from time to time. When looking for ways to ensure your sales reps are motivated, here are some of the best ways to go about it;

Cash bonuses

Monetary incentives are probably one of the simplest and most straightforward awards you can give to your sales reps. Responding well to cash bonuses is an almost universal element that is constant among different types of reps. Successful sales efforts will be heavily vested on awarding your reps with awarding them monetary benefits.

New Gadgets

Most consumers will be lovers of new gadgets. This is one of the reasons people camp outside Apple stores when there is a new device being released to the market. Many people find a new tech to be quite exciting and sales reps are no exception. So make it a habit to reward your sales reps with new gadgets as much as you can.

Professional development opportunities

This is one win-win for both sales organizations as well as reps. Make reps will be looking for opportunities to bolster and upgrade their sales skills and equally set themselves high up for smoother professional development. If you can offer exemplary sales people’s incentives such as tickets to places such as sales seminars and educational places, it can work wonders for their motivation.

Personal Development Incentives

Personal development is another powerful motivator when it comes to rewarding your sales reps. I think there is no one who doesn’t want to achieve the best version of themselves. There are wonderful personal development incentives such as gym memberships, cooking classes, learning a second language among others, that can all work wonders.


A company covered vacation is one of the most important and traditional awards you can set up for exceptional salespersons. People will always love to take some time off work for themselves and their families. If they can enjoy all the benefits that come with vacationing with expenses paid by the company they work in, it can do wonders in motivating them.

Entertainment Tickets

You can boost the morale of your salespeople with some fine dining. People will always love to spend time together on memorable events and on things that entertain them. You need to be willing to take your most exceptional reps out to have quality time together and enjoy themselves.

People will always have different tastes and preferences. For any group you are managing, it is important you learn your members to develop a better understanding of things that excite them and come up with a plan on how to compensate them and boost their morale with those things they most love and treasure. That way, you will be creating memorable experiences.

How to Get the Most out of Your Ecommerce Marketing Strategy

Posted on October 20, 2020 by

Your eCommerce marketing plan is essentially the cumulative total of all strategies and tactics you apply to promote your products and services online. Though it is a different model as compared to what the likes of https://towtruckfairfax.com/ do, the bottom line is that eCommerce is a very lucrative business for different industries across the globe.

If you are running an eCommerce store, here are some of the tricks and tactics you can put in place to get the best of what you want to sell.


Maintaining a blog is one of the best ways to attract potential customers to your site organically. You need to create quality content that is relevant to your industry, as doing so projects a sense of legitimacy and trustworthiness to your prospects. Additionally, you can give strangers incentives to visit your site through your content, on materials that are specific to your products and services. You can generate a lot of interest that can in turn lead to your prospects taking some actions.

Contribute to guest posts and other websites

Guest posts have the potential of expanding your online visibility. Additionally, it can help you in better establishing you as an authority in your industry. When you establish your authority in search engines, you become more reliable and your rankings increase. You can establish your authority on search engines with the use of relevant keywords on the products and services your customers are searching for.

Use referral marketing programs

Referral marketing combines two of the most underlying assets to any eCommerce marketing strategy – These are the word of mouth and incentives. With a solid eCommerce referral program, you will allow your customers to communicate your message to prospects who will trust their judgment. Research has shown word of mouth is directly responsible for about 20 percent of all purchases and has as much as 90 percent influence. A significant part of your eCommerce marketing strategy should include referrals.

Make use of social media

A well maintained social media presence will be an invaluable component of any successful eCommerce marketing strategy. Marketing products and services over social media can be very important for companies as products get advertised to different people all over the internet. Very few consumers are willing to buy products or services based solely on text. The success of your social media will lie in the efforts you put into the images you use to capture attention and generate traffic.

Drive user-generated content

Driving user-generated content is one of the best practices in finding and fostering ways for your customers to promote their business. It can be an excellent way in facilitating word of mouth for your company while driving traffic to your eCommerce site and building an authentic following of interested customers. One of the most effective ways of encouraging user-generated content is by offering prizes to your customers and promoting your products in some form.

In whatever you do, read through the interests of your customers and come up with something creative to their liking.

Simple Rules for Writing a Solid Business Plan

Posted on August 27, 2020 by

Now that you have decided to start your business, what is the next thing you should do? You have gotten feedback on your idea and everything has been positive. You are feeling ready to start your new journey of entrepreneurship. The next thing you should do is to come up with a business plan. A business plan is like a map that guides a business on where to go. It is coupled with meticulous planning and strategy, to ensure everything goes right. Coming up with a business plan for
https://raleightowtruck.com/ involved doing a lot of research to get everything right.

Depending on your goals and nature of business you want to get yourself to, a solid business will be very important in helping you secure the funding you need and bring in the partners you should have to move your business to the next level. Here are sure tips you should follow to come up with an awesome business plan.

Conduct Market Research

Before you can begin the process of convincing people about your business, you need to have data to back up everything. Stats show a large number of companies bite the dust within the first three years of incorporation, and this happens especially if there was poor market research before incorporation. You should have a careful scope of the market you are planning to enter and navigate the obstacles and challenges that might come along the way. For the data, you collect on your market research, analyze it, and come up with suitable conclusions.

Identify key readers of your business plan

There are eight different types of audiences your business plan can target. This will all depend on the group you want to attract so focus on highlighting those aspects of your idea that would be relevant to a certain group. Suppliers may be most interested in your financial focus and solvency, while prospective business partners may be interested in how you distribute ownership of the company. Regardless of the audience you choose to focus on, include key details that would also answer key questions from any group.

Learn how to summarize your ideas

You need to learn to get to the point as quickly as possible. Learn to summarize ideas for yourself and also make it easy for others to get to know your ideas without being subjected to lengthy reads. Being able to have summaries also shows you have a solid grasp of your plan and you are thinking critically of the steps that need to be followed to reach your goals.

Follow a standardized business template

You need to ensure all essential elements of a business plan have all been included. The essential elements include a business description, sales strategy, financials, market analysis, among others. Your audience will expect to find certain key details included in your business plan, according to the industry you are targeting. To avoid sounding naive and inexperienced, ensure you use the terms and language commonly associated with the industry you want to venture in.

How to Increase Your Productivity

Posted on March 5, 2019 by

productivityDuring a time I was running a tree service business, which by the way was my first business, I used to struggle on managing time effectively and increasing my productivity. However, after a series of learning and self-improvement, things got a better turn. Every minute of your life is gold, and you need to treat it in the right manner. Most people struggle on getting the most effective structure of their time. No matter what you do and who you are, you need to understand how utilize every minute of your 24 hours.

If you are looking forward to be more productive and achieve the best version of yourself, here are sure ways to go about it.

Stop Multitasking

It can be quite tempting to take care of some few tasks at once, especially if these tasks seem to be relatively easy. However, multitasking is a killer of productivity. Multitasking should be avoided at all costs because it is not humanly possible. You are basically fooling yourself if you think you can adequately and expertly juggle between presentations, phone calls, working, eating, all at the same time. Focus on one thing at a time and you will achieve the best version of yourself.

Take Breaks

It might be tempting to think that working for longer hours gets you more things done, but in the real sense, it might be killing your productivity. Studies have shown that taking regular breaks can help you with concentration as well as boosting your mood and energy levels. You need to take a 5-min walk around your office or working place, or spend some few minutes grabbing coffee.

Set small goals

Sometimes, looking at our goals may seem to be exciting, but overwhelming. When you see a handful of big projects on your desk, it can be stressful. However, if you break a large task into small chunks, it become easy for you as you feel more in control as well as productive. Breaking a large tasks into small elements makes you feel more in control, and also makes the task seem to be less demanding.

Take Care of Big Tasks First

You need to take care of big tasks the first thing in the morning, or work on such tasks when you are more alert.  Sometimes, we put aside big goals because we are not confident that we shall accomplish them. By the time we get to tackle these tasks, we find that we are overwhelmed, burned out and end up procrastinating. You need to understand how and when you work best, as this will help in getting the best version out of your productivity.

Two Minute Rule

You need to implement a two minute rule. This means that you should find and implement tasks that take two minutes or less, as this helps you on saving time. If a task takes less than two minutes, do it immediately. A goal or habit can easily be started in under two minutes. This is not to mean that you will be able to accomplish every task in under 120 seconds, but making the first move on such a task can get you started easily.

Ways to Teach Your Kids about Work

Posted on January 6, 2019 by

kidsIt is always the joy of every parent when kids develop a good work ethic. I have always tried to teach my kids to have a good work ethic from West Palm Beach Towing Service, but it is not always that easy. As a parent, the most important question to ask yourself is what traits you want your children to possess. Irrespective of how responsibility and hard work might be involved, you need to provide the perfect recipe that instills happiness in your children.

If you want your kids to be successful, you need to work to impact the following lessons to them;

Teach them to prepare for unknown

You need to teach your kids that unknown is not as scary as it seems. Most people are faced with the fear of unknown and it can be quite disturbing. There is an incredible excitement to overcome fear. As a parent, you need to do something a bit scary to your kids and prepare them to avoid the scare. Prepare them to work towards finding their own solutions when faced with a challenging situation.

Teach them to do what others are not willing to do

This is one of the easiest ways you can teach your kids to be different. You need to teach your kids to do something that others are not willing to do. Pick one thing that other people don’t want to do, irrespective of how small it might be, and do it. Every day, think of one thing to do, that no one else is willing to do, and have your kids do it.

Be good

GoodYou need to teach your kids to look below the surface and be good always. Sometimes, your friends may be hesitant, while other times they may be insecure. When your children are faced with the task of reviewing others, help and teach them to always give a positive compliment about anything they say to others. Teach them to be always kind.

Goal Setting

Teach your kids that achieving a huge goal always starts by doing something small. They need to have ideas, plans, and goals and work step by step in achieving these goals. You need to teach your kids not to let hesitation and uncertainty stop them from achieving their dreams. Teach your kids to live the life they want to live. It is very healthy not to worry about what others say, as well as not to worry so much about life.

How to Help Your Child Manage Peer Pressure

Posted on December 8, 2018 by

peer pressureChildren of all ages experience some form of pressure. In most cases, people think peer pressure is bad, but can also be positive. It can be pressure from peers for your child to join a new school, study for better grades, try a new sport, and attend college among others. Good and bad peer pressures are common. All you need is to guide your child to deal with each type of pressure.

The following strategies will help your child to handle peer pressure in a more effective manner.

Prepare for possible solutions

You need to discuss typical age-appropriate instances that have a likelihood of arising. For young children, an example could be excluding a classmate or even teasing a less popular peer. For the older kids, it could be failing to attend to classes or trying drugs. You need to discuss the possible consequences of such actions so that your child is better prepared to handle these situations effectively.

Set Family Rules

If your family has set clear household rules, it will be easier for your child to avoid breaking them. You need to provide your child with some ground rules such as – in this family, we are kind to everyone. All the children must thus try all they can to ensure that they follow all the house rules. The child can, therefore, refer to family rules when subjected to some form of peer pressure.


Discuss effective responses

If a child is unprepared to respond to peer pressure, they are more likely to react more quickly and give in. You need to recommend ways for them to get out of such situations that make them feel uneasy. They need to be able to suggest alternatives that help them avoid inappropriate behavior. Sometimes, it would be best to teach your child to avoid explaining it justifying their refusal to participate in something.

Choose the right friends

You need to encourage your child to be selective when choosing their friends. They should look for friends who have the qualities they admire. They should be friends who have similar values and ethics. If there is a particular friend who incites bad behavior, they need to seek other friends. You should, however, be careful not to criticize a child’s friend, but rather work to find out what inspires their behavior.

Talk about dangerous behavior

If you know the facts about drugs, cigarettes, and alcohol, you can be better placed to make informed decisions when counseling your child about these substances.  You should not wait for your child to discover the dangers on their own, but rather present them with facts that discuss the hazards of these substances. You need to understand that the expectations of a parent influence the behavior of their children.

You need to understand that adults are not immune to peer pressure too. Many have made a lot of poor life choices as a result of peer pressure, with some of the choices having a lasting consequence. You need to take the necessary steps to help your child deal with negative peer issues that may pose a risk to their lives.


Ways to Motivate Your Child

Posted on November 26, 2018 by

happy childConvincing your child to do things they do not want to do can be a challenging task. Actually, making them stop doing things they are used to doing can prove to be even trickier. As parents, we normally have that belief that our children will not care unless we push them to the limits. However, the truth is that some attempts to motivate your children might be working against them.

Your child will always be naturally curious and eager to learn. This means schools and homework should be as pressure-free as possible to help protect your children from stress and boost their academic and personal achievements.

Here are top ways a parent can employ to keep their child motivated.


Show enthusiasm

You need to show enthusiasm for your child’s efforts and interest. Additionally, you need to encourage them to explore what interests them, be it studies, art or talent. If she is interested in horses, tell her stories about horse riding and racing, and challenge them to find information about horses in the encyclopedia and on other sources.


Ask questions

You need to ask them questions about what they are learning. Your key interest is not about their grades or test scores, but getting to know what interests them most. Ask them to teach you what they learned in school and pay a keen interest in where their potentials lie. Help in organizing school papers and assignments as this helps them to feel in control of their work.


Build Responsibility

responsibilityYou need to build a sense of responsibility for your children at a very young age. You need to allow your child to choose extracurricular activities that interest them and assign them chores in line with what they like. The bottom line is to identify the areas that interest your child most and build their life out of that.


Appreciation and Acknowledgement

You need to recognize, appreciate and acknowledge the achievements of your child.  Celebrate their achievements no matter how small they are. Encourage them to develop their talents and appreciate any efforts they are making about it. Offer them advice and practice as well as showing them how to achieve results while faced with a challenging task.



Not all times your kids will be on the right side of things. In many cases, they shall be on the wrong. When such happens, you need to exercise calm and self-control to avoid turning a small situation out of hand. Help your child identify their mistakes and let them learn from the whole experience. Do not be too hard or bossy about it when they make mistakes. Correct out of love.





Easy Ways to Create More Quality time For Your Family

Posted on November 19, 2018 by

familyIn the hustle and bustle of the city, it is very easy to get lost and forget your family. A family is very important particularly if you have a growing child. As humans, we crave for interactions as they are an integral part of any relationship. Time slips away from us as we rush to complete urgent tasks ahead of us. However, the most important thing a family can do is to stick together as it shows that they care about each other.

Some families have devised ways of creating time for each other by organizing big family holidays. This allows them to get away from day to day distractions and have time together while building new experiences. There are some important things one can do to ensure that the family is well bonded together.


Have Dinner

You need to make it a point to let work or schedule for a later date or time so that you create time to sit together as a family during dinner. Eating dinner together as a family allows members to bond together through happiness and asking vital discussions. There is not a better way for the family to interact every day and have a good time that at the dinner table.


Family vacation

You need to choose a night each week that serves as a family night. Every member of the family should know what this night is, and how important it is. Keep this night scheduled and do not let anything fall in between in its place. On this night, go have fun together as well as having dinner. You may also decide to stay at home for a movie night or a game night. Talk to each other about how the week was, as well as your plans.


Reading together

Reading togetherYou can decide to go to the library together as a family. Find a list of great chapters in an interesting book and read. This is done depending on the age of your children. Reading together makes a great conversation as well as bonding time. If there is a movie that has been made from the book you just read, then go and watch the movie together.


Exercise Together

You need to go outside with your kids and have fun together. You can go hiking, boating, fishing or any other sport. Physical activities and sunshine create a great outdoor for every member of the family. Exercising and participating in sports helps in bonding a family together. You can also decide to get artsy. This can happen if you sign up for art class together. There are awesome art classes and opportunities out there, for the family to enjoy together.

Additionally, you can decide to get to the kitchen together. You can make dinner together with the assistance of your children. You can also find a way to help others as you do it as a family. If you have some elderly people who need help, there is not a better way of doing it, than doing it as a family.