Introducing a product to the market is a key aspect that determines how well the product will sell. In Ukraine and any other country, products are designed with considerations such as target market, market availability, and competition. If all these and many other factors are considered during the product introduction phase, the product is likely to sell well.
WHAT ARE THE FACTORS & TECHNIQUES FOR SELLING IN UKRAINE?
A lousy product introduction to the market could lead to the product not selling at all. Here are a few tricks for better selling a product in Ukraine and factors that help product marketing.
With the world developing technologically, the exchange of information has become much more manageable. Once a product has been launched, the next step would be to tell the world of its existence. This may be done in several ways. Let’s take a look at some advertising tricks executed by manufacturers and retailers in Ukraine:
As a product hits the market, organizations tend to offer promotions to boost sales and knowledge. Some of these promotions include the usual “buy one get one free.” The thought of getting two items for the cost of one has proved to be irresistible to most. This is a classic promotional trick and has proved to be effective.
TV and Radio
Ukraine has a host of TV and radio channels that organizations can use. A well-constructed TV or radio advertisement on a station like Channel Ukraine or Lux FM can generate a lot of attention for a product. The communication industry in Ukraine is in fair shape, and several quality channels are available.
Trade shows and exhibitions
In Ukraine, Premier Expo, ACCO International, and The International Exhibition Center are some of the many organizers of trade shows and exhibitions. These allow product manufacturers to engage with consumers for feedback and meet potential business partners such as wholesalers or advertising agencies.
There are several factors to consider when coming up with a price for a product. The first and most obvious would be to measure the cost of production. Naturally, one would want to sell their product at a higher price than the price of producing and moving a product into the market. The second factor to consider is whether the target market can afford it. In Ukraine, the average employee earns a little over USD 400.
Another factor to consider is the ages of the target market. Younger shoppers are more likely to purchase a high-priced American-made item even when a generic item is available. Those over the ages of sixty, however, are least likely to do so.
In some instances, prices are set and regulated by the authorities of the Ukrainian Government. For example, the telecommunication service providers have their prices regulated by The National Commission for State Regulation of Communications and Information. The energy and utilities are regulated by The National Commission for State Energy and Public Utilities Regulation.
Another key factor to consider when pricing is to remember that Ukraine has a 20% VAT fee for consumer goods. Limited liability companies need to add a 20% fee to their price. Private entrepreneurs need not do this though as the fee is already added.
Warranties and Customer support
When a customer buys a product in a store, they expect it to last for as long as possible. When it unexpectedly breaks down, they expect to receive immediate help. Having these promises guaranteed to you would help make the decision of buying a product much easier. As a retailer, it would be prudent to work on improving after-sales relationships as well as to offer competitive guarantees for goods sold.
In Ukraine, manufacturers of electronic equipment such as TVs and Stereos must guarantee a product’s functionality for a minimum of six months. Should the item malfunction within the first six months, the manufacturer is expected to repair free of charge or reimburse the customer the cost of the item bought. The manufacturer may only nullify the warranty agreement if the customer has tempered in any way with the product.
For items like food, clothing, drugs, and cosmetics, the retailer may exchange or reimburse at his discretion. They are not legally bound by law to do so.
The key to success in the retail business is simply following a few rules that draw customers. Selling a quality product or service is a sure way to keep a good client base. Once word gets around that a retailer has quality goods or services, the client base can only grow bigger. Durable products are also a factor allowing retailers to push volumes in sales. Buying a product today only for it to malfunction the following day would raise unwanted questions.
A retailer would therefore carefully consider their product supplier to ensure that they are getting quality, durable goods. As mentioned earlier, taking note of how to price can be an important factor leading to better sales. The "after service sales" as mentioned would be employed to leave customers happy and willing to return for another shopping spree.