Professional Documents
Culture Documents
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Findings
This study is conducted to find out the comparative nature of onseason and off season sales strategies.
Majority of respondents are belonging to age group 20years- less than
30 years.
Majority of respondents are unmarried.
Majority of respondents are male.
Majority of respondents are students.
Majority of respondents are belonging to annual income group 3 lakhs
less than 6 lakhs.
Majority of respondents are recalling about readymade mens wear
whenever they hear the brand name Peter England.
Majority of respondents have visited Peter England showroom earlier.
Majority of respondents have visited Peter England showroom 1 -3
times in a month.
Majority of respondents are feeling motivated to purchase Peter
England products during special occasions.
Majority of respondents are searching for different offers while
purchasing Peter England products.
Majority of respondents are thinking about being provoked to
purchase Peter England products during off-seasons as a result of
discount.
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RECOMENDATIONS
The off season affects every business; and it affects every business differently.
Retailers may see their incomes soar during the Christmas season. Tourist traps
may see their incomes soar during the summer. Some businesses may burst at
the seams when the school year starts. Others may burst at the seams during the
short spring break in February or March.
Ultimately firms should be prepared with Plan B. Peter England, a branded
ready-made means wear should follow the following strategies to deal with the
off-season.
1.
Follow up with old customers. Admit it: during the busy season, it's not
likely that organizations are able to spend a lot of time following up with
customers. In fact, it's not likely that you could spend a lot of time sleeping,
vacationing, or doing anything else other than filling orders. Now that you've
got the time, get into the habit of following up with customers. Even if it's
been six months or a year since they bought the product, give them a call or
drop them an email and see how the product is functioning. Take the time to
ask them about upcoming needs.
2.
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become expected, or the busy season will become the slow season when all
of the customers wait for organizations products to go on sale at the same
time each year, "like clockwork."
3.
4.
Test a new product. If the organization was toying with an idea to add to
a new product line, now might be a good time to do it. Sales won't be great
for a little while, but it will give the organization time to test consumer
reaction, potential defects, and marketing angles...all while it have the time
and without having to stick a large amount of investment into inventory.
5.
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BIBLIOGRAPHY
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increase the exposure and indirectly highlight the different usages of the
product to the visitor.
4. Cross Selling
You can cross sell complimentary off-seasonal products with seasonal
items to increase the sale of off-seasonal products. However, you have to
be very cautions in cross selling and assure that you do not sell
completely non-related products.
5. Web Site Promotion Tools aggressively use various website
promotion tools like Newsletter, Bulk Email & Affiliate
program to attract visitors to buy off-seasonal products.
You can also provide special discounts to leads coming
from such medium to further push the promotion.
You can use such strategies provided you are not constrained
by the featured limitation of ecommerce shopping cart. It is
recommended to choose a shopping cart that allows you to
customize your store as per your needs with least of efforts.
An ongoing challenge for many business owners is the drop off
in business during their "off season". Your "off season" may
vary depending on what specific types of products you sell or
your geographic location.
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This makes the off season challenge even more difficult because not only do
companies experience a loss in revenue, but they also risk losing skilled
workers who are the backbone of their retail business. These employees are at
risk of moving to other jobs to enjoy a more consistent and predictable income.
Many of the business owners say that theyre frustrated with their inability to
grow their business, simply because they dont have enough skilled staff and the
thought of losing their employees during the "off season" troubles them.
Starting a second line of business can be tricky. Running one business is tough
enough but opening a second business can present a new set of conflicting
priorities and strategies. The advantage you have is that youve been there
before.
You are already familiar with many of the challenges that come with starting a
new business. Many of the issues youll face while opening the new business,
will be the same issues youve already tackled.
Perhaps the biggest decision in starting a second line of business is what type of
business to start. Consider these steps when thinking about your new line of
business.
Step 1 - Identify the expertise that you already have in your business. Either
you or your key employees may have previous experience in other lines of
business. One company noticed that he and his employees had extensive skills
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Step 3 Create a plan for your new business that includes the four critical areas
of financing, people, product, and marketing. These are the four cornerstones of
any good business plan. They include the vital four questions you must ask
yourself when starting any business, whether its a side business or your main
business.
These questions are:
1. How will we finance the business?
2. How will I hire, maintain, and manage qualified employees?
3. What will my product or service look like and how will it be different?
4. How will I market my new product or service?
During the business planning phase is when you would investigate and learn
more about the requirements to start your new venture. You may find out that
they are two different animals and that the barrier to entry is too high.
Step 4 Start marketing your services early in the season to your current
customers. What better group of people to market your new products and
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services to than to those whom you already have a business relationship with
and who know and trust you.
Review your customer database and pull out all your customers with whom you
have done multiple transactions. These are the customers that have
demonstrated their loyalty to you and your business and are the most likely
people to buy from you again.
Marketing your additional lines of service is also a vital step in building a
successful diversified business. Many businesses that sell multiple services send
a We do it all message and attempt to market all their services in one
advertisement. This is confusing to the customer. Today, when consumers buy
services they want specialists or businesses that have specific expertise in doing
that one thing.
When advertising your new line of products and services, confine your
advertisement to just one product or service. Although this may cost more, your
ad will be far more effective. Once your prospect comes to your store, youll
have an opportunity to cross-sell them on other products and services you
provide.
Beginning a second line of business to offset the winter months slowdown is a
smart move. Not only does it offset lagging income from slow months, but it
allows you to maintain key employees and diversify your business income. By
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matching the skills and talents of your business to your customers needs or
wants, youll be able to find the right product or service to pursue.
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