Skip to main content

What to do with unsold products?How to save business from unsold product losses?


Millions of businesses are facing the problem of unsold products these products may be food items, clothes, electronics, or other usable products during the sales period. Many people try to find out the main reason behind this problem however they could not able to know.

So what to do with the unsold products…. throw these products away, burn these products or crash these all Well this could not be the perfect solution of such problem, though doing these things will increase loss in your business.
In order to solve this problem you might need perfect ideas relating to the unsold products or items. Using these ideas will guide you towards the solution of the unsold products problem and towards generating more profits in your business.

Ideas and Techniques to solve unsold items Issues:

Detecting the Key factors=
First action must be to find out the reason and the key factors involved with the unsold items. Businessmen have to detect the error in the departments of the company with the help of experts to know what is the actual reason which is causing the items unsold whether the quality and quantity of the products is not proper according to the demand or the employee is not working well to sell the items after detecting these key factors business expert’s uses the strategies to increase the sale of unsold items however other ideas to increase the sale is following.

Discount Offers=
Everybody is well aware of this technique and most of the businessmen uses this. The large portion of unsold products can be sold by giving discounts for example many businesses provide different percentages of discounts from 30% to 70% sometime more or less of this percentage in this way you can sale your products in large volume.

Buy one get one or Buy one get two=
However these kind of offers are usually more attracting to the customers because they feel to have more products in price of one which mostly results in finishing the whole stock. These type of offer is usually used to finish the unsold stock.

Anniversary Discount=
One more technique is to attract the customers is to provide Anniversary discount of the business or the company. Many companies at the time of anniversary provide attractive discount to celebrate its anniversary. This way help the companies to increase their sales and decrease unsold items.

Seasonal or special event Items=
Many products sold seasonally or at the time of special events depending upon the demand of the products relating to the specific season and special events. However many products remain unsold at the end of the season and increase the chances of loss. Seasonal items or special event items can be managed through various methods like businessmen or seller can save the unsold items to sell it in next season or in next special events but it needs patience. This patience will help you to decrease your loss in next season because of increase in price as compared with the previous price of the product.

Free Service Offers=
Businessmen can use this technique in order to cope with unsold stock by providing free service with the product. This technique is so much helping for the customers as well as for the business in selling unsold products, for example if you are indulged with pharmaceutical business then you can finish unsold items by providing free services of Doctor with the products price. Another example is that, you can sell your unsold electronics devices with free checkup services offer within that product price which is also known as after sales service.

 Charity=
If you have unsold items in large volume you can use it for the purpose of charity instead of throwing it away or to burn it. Charity to the poor people will help your business to grow more quickly and will increase your profit because many people in the world love to devote their portion of income for the purpose of charity. When people come to know that your business is doing charity in this way, many people would like to purchase your products.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Difference between Downsizing and Reengineering with real life example

Explain difference between Downsizing and Re-engineering with real life example? Downsizing = Downsizing is used to reduce the size in order to improve its financial performance, usually by laying off employees.Businesses use several techniques in downsizing, including providing incentives to take early retirement and transfer to subsidiary companies, but the most common technique is to simply terminate the employment of a certain number of people. Downsizing often takes place as part of a larger restructuring program at a company. Although it's usually thought of as a strategy companies use to become smaller, downsizing can also be the result of company mergers, acquisitions, and takeovers.Its most common form comes in employee layoffs, which reduce payroll costs for the company. Downsizing may also involve shuttering some operations or offering certain employees early retirement. Downsizing is typically seen during economic downturns in order to improve efficienc...
5 comments
Read more

What are the Crosby’s 14 Steps Work.

The 14 Steps of Crosby are following. 1. Management Commitment= It is necessary to consistently produce quality products and services at the optimum price. This commitment must also be transparent to all employees for the prevention of defects in all the operating departments. 2. Improved Quality= Search for team members who will model quality improvement commitment, every function of an operation must contributes to defect levels, every function must participate in the quality improvement effort . The quality improvement team should be able to effectively commit themselves to improvement of quality. 3. Measuring the Quality= Firstly you have to know exactly where your products and services lie when it comes to conforming to requirements. Thus, the third step on Crosby's list is to measure quality. Determine where there is room for improvement and where potential for improvement exists. 4. Cost of Quality= Explain how the cost of quality figures into the overal...
1 comment
Read more

Discuss national income and Gross domestic product effect on national income.

Discuss national income and Gross domestic product effect on national income. Before we start to explain let’s take a look on closed and open economy In a closed economy, all output is sold domestically, and expenditure is divided into three components: consumption, investment, and government purchases. Y = C + I + G In this equation Y is the total output, C is the total consumption, I is the total investment and G is the total government expenditure. In an open economy, some output is sold domestically and some are exported abroad.                                                                   Y = C + I + G + NX In the above equation each word stands for is following: Consumption (C) Investment (I) Government Purchases (G) Net Exports (NX) Consumption : The spending by households on goods and services, with the exc...
Post a Comment
Read more