Free Business Consulting On Line by raortiz: How do you increase ...

Another small detail is that on the onset, sales will only occur if the SELLER, and the BUYER meet to explore possible transaction to occur. Where do they meet. And how will they meet?....

Question hanging on last post is , Where will the Buyer and Seller meet? They meet in the "Market", is defined as an open place or a covered building where buyers and sellers convene for the sale of goods; a marketplace: a farmers' market.

But now market? , Can be virtual or real , since some buying and selling are also done online through virtual place in the internet.

Sales can be defined as a product of the number of transaction and the average amount purchase in an establishment. In equation form?? Sales =TCxAC ( Transaction count or the number of transaction in a day ) multiplied by the Average Cheque or AC ( which is the average amount purchase by all the customer of an establishment ). AC is further computed by Dividing your daily gross sales by the total number of transactions in a day.

Any increase and decrease in this two variable will have direct impact on sales. If you want to increase your sales while maintaining the same number of customer base, you have to find a way to increase the average amount purchase, which is the AC, you do this by either bundling small product to increase the amount a customer purchase, in fast food they do this through suggestive selling program. Take notice that after placing your order on any Fast food company , before they finally process your order they suggest side items or trade up with your purchase, e.g. would you like to add french fries, or would you like to trade up your soft drinks into a larger size.

By doing analysis of your sales performance in a week part, day part, and monthly basis, you can see patterns in the TC and AC and this will give you indication what brought about the increase or decrease of your sales.

How do you further use this basic equation in coming up with actionable marketing plans and programs?

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Source: http://freebusinessconsultingonline.blogspot.com/2013/01/how-do-you-increase-sales-part-3.html

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