INGCO
How to fight with Ingco Total Emtop
- "BOB, INGCO is crazy. I can't compete with them!”My Customer complaining to me.“We buy the same angle grinder from the same supplier Huali. The price i get from Huali is US$12, while Ingco gets a price 10% lower at US$10.8, just because they placed a crazy big order at 200,000.00 units! What’s worse, they are selling this angle grinder in my market at US$12.00. While, after pay custom clearance fee+freight, my bottom sales price need go to US$14.40! On price US$12.00, the more qty into sales,the more money they lose. How could they afford it?I hope our government can stop them, it is unfair! It is a Unequal competition! “
Competing with a price-savvy competitor like Ingco requires a strategic approach that goes beyond just matching or beating their prices. Here are some detailed steps to consider:- Understand Your Customer's Needs:
- Conduct market research to understand what customers value beyond price. It could be product quality, durability, customer service, or a seamless shopping experience.
- Segment your customer base to identify different needs and tailor your value proposition accordingly.
- Emphasize Quality and Reliability:
- Highlight the superior quality of your products or services. If your products are of better quality or more reliable, customers might be willing to pay a premium.
- Share testimonials or case studies that demonstrate the excellence and durability of your offerings.
- Exceptional Customer Service:
- Train your staff to provide exceptional customer service. This includes being knowledgeable about your products, listening to customer concerns, and providing tailored solutions.
- Offer personalized shopping experiences or consultations to make customers feel valued.
- Create a Unique Value Proposition:
- Articulate what makes your business unique. It could be your brand story, community involvement, or unique product features that Ingco does not offer.
- Communicate these unique selling points clearly to your target audience.
- After-Sales Support:
- Offer comprehensive after-sales support such as warranties, repair services, or customer support that is available beyond standard business hours.
- Consider offering additional services like product maintenance or training to help customers get the most out of their purchase.
- Build Customer Loyalty:
- Implement a customer loyalty program that rewards repeat business. This could be through discounts, exclusive deals, or personalized offers.
- Engage with your customers through newsletters, social media, or events to keep your brand top-of-mind.
- Strategic Pricing:
- While you may not be able to match Ingco's prices, you can consider dynamic pricing strategies, bundle deals, or value-added services that can justify your prices.
- Analyze your costs and pricing structure to ensure you maintain healthy profit margins.
- Negotiate with Suppliers or Find Alternatives:
- Revisit your relationship with Huali or explore other suppliers to negotiate better terms or find more cost-effective options.
- Look for niche suppliers or smaller vendors who may offer competitive pricing for smaller orders.
- Cost Optimization:
- Review your operational costs to find areas where you can reduce expenses without compromising on quality.
- Invest in technologies or processes that can increase efficiency and lower costs in the long run.
- Build Relationships:
- Focus on building strong relationships with your customers. Personal connections can lead to long-term partnerships that are less susceptible to price changes.
- Network within your industry to stay informed about market trends and potential partnerships that could provide a competitive edge.
Remember, every business has its strengths, and by leveraging yours, you can create a sustainable competitive advantage that goes beyond price competition.
"Sell INGCO feedback no profit! " It is another complaint from the market.- INGCO
- TOTAL
- EMTOP
- RICOTA
- WADFOW
- JADEVER
- DYLLU
- decakila
Now for the same company, INGCO has broken into 8 brands. Same price, same shape, only difference in logos. INGCO's brothers are fighting each other, giving their dealers no benefit in the market.If Ingco did nothing about this, other competitors would get their chance to beat on this point.
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