What kind of promotions can be run to increase market share?
It depends on the market and the competition for similar pork rind products. If the pork rind retail pricing in a market is over 99 cents then you have an automatic promotion with your 99 cent pre-marked products. If the prices are the same you could promote your pork rinds at a lower retail price, like 89 or 79 cents per bag. Then customers would pick up your bag because it has a lower retail price. The reason for a promotion in this business is to build up demand for a new product being introduced in the market. If customers try and like the product they will buy it again and again. The trick is to get the customer to pick up the new product, and this is done with pricing, display location and signage. Some business owners will ask for a promotion and some others will even insist on a one time initial discount. Decide how much of your profit margin to give up on the initial order. 10% to 15% is the norm in this business. Remind the owner that you have to pay for the new rack being pl
