25-11-2020 - 10:00 AM to 1:00 PM
Understanding and Developing your Value Proposition
This workshop will examine the psychology of sales and consumer behaviour. Most SMEs face the problem of how to increase their sales. They have relatively little time to think about how this effects the sales function and how sales needs to fit strategically and culturally with the vision for the business.
We will investigate what is the perceived value of the product or service to those who are likely to buy it? We know that people are driven to buy if they think that they are likely to miss out if they don’t buy it in a certain period. So the question is why should I make my decision to buy now? We know that if an item is popular more people are likely to want to buy one as well. We also know that when items are scarce it creates more demand.
So, in perceiving the value of products/services, we know that people are not always rational about spending money. Therefore, how you price and discount your products relies on knowledge of the market and customer preferences. Do you deliver on the promises that you have made to your customers? Psychology tells us about how customers make decisions and helps us to consider the whole service offering and value of your product or service. The workshop will also examine the organisation’s value proposition allowing a link between organisational strategy and marketing strategy. This workshop will be delivered by Barny Morris from Birmingham City University