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How to Achieve a Better Profit For Your Online Auction Product and Your Small Business

Everyone can see everybody else's prices and product and before long prices are very cheap.

So how do you beat this competition?

Refine Your Niche

This is about finding a niche and then refining your product in that niche. You could refine your niche by selling a variety of quality of goods of the same items.

For example - you may sell a cheap version of the product and then have a range of better quality items as the price increases. If you have a large range and variety of one item, this will strengthen the fact that you are more of a specialist in the product you sell.

You could then add additional free information about the product in your marketing highlighting that you sell the biggest range of the item and are specialists about the product.

This will make it hard for a competitor that sell s a similar item. If they only sell one item then they are not looking as much of an expert as you are.

This is a basic example but illustrates how effective marketing and product placement can benefit your business.

Charge More for Postage

Have a low starting price and a high postage price. Research shows that people feel better when they pay less for the item even if the postage is higher.

This is a common technique used online on some of the large online auction sites.

Set Your Businesses Up for the Long Term

Provide a quality product at a good price. Point out clearly why your product is better. Even if a competitor comes in and trys to sell a similar product at a lower price, thing about things long term. That is you want to provide good quality long term service to your customers. Selling goods at bargain basement prices often means that customer service is neglected.

So producing more profit from your business covers a lot of things - not just price. It covers the whole package - you, your company, your marketing, your service, your impression in the market place, your products and your warranties and back up service.

If you look at the big picture then you are more likely to be successful in the long term and be around to stay - instead of a company that is here to day and gone tomorrow.

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Article Source: http://EzineArticles.com/?expert=David_Taylortown

David Taylortown - EzineArticles Expert Author

Labels: How to Achieve a Better Profit For Your Online Auction Product and Your Small Business