The secret of a successful online marketing or online transaction lies on a good reasonable price.
The reason why most business owners do not succeed in promoting their product is either they put the price too high or made such a very low bargain.
In order to succeed and make the most of what online shopping, like eBay, can do to online shoppers, the secret lies beneath a sound price mark. Hence, it’s a must for every eBay seller to know how to quote his or her prices well. Here are some ways to make that money-raking quote:
1. To start a good bid, sellers must aim for a ten-day listing with one cent per bid increments, with no stored auction. Then, they should calculate how much their starting price would be considering the ten-day/one cent increments. This means that after the ten-day period, the sale must arrive at the desired price of the seller.
This is a good way to start the bid because buyers will be enticed to take part due to a low-starting price.
2. Sellers should consider the target market for the product such as its purchasing power; and the nature of the product being sold.
3. It’s also best for sellers to start with the actual selling price of the product instantly, but still on a ten-day listing. The difference is that, the seller should opt for the “buy it now” price that is to some extent a little higher than the actual selling price.
The “buy it now” strategy will put some stress on the buyer considering the small difference between the two selling price. The buyer might even think that he may even lose the game if immediate actions will not be deployed.
4. The seller should also consider the quotations of other businesses that sell the same item. Sellers should take note that when somebody else sells the same product, it’s the price that counts most. So, it’s best for sellers, who want fast results, to quote prices slightly lower than the other item with the same description. Though, the seller must take note that quoting prices should be reasonable enough to compel buyers to action – that is, to buy the product.
Indeed, quoting prices for a certain product can be very tedious. The bottom line is: sellers should aim not for gaining profit alone but also target for a “live by the moment” attitude of the buyer.