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There are different methods businesses use to increase their sales. What are the different ways companies use to increase sales? Which one is the most effective?

#methods #businesses #sales #companies
There are a variety of methods employed by businesses to grow their
sales
 revenue. In my opinion, these typically relate to marketing and innovation, with the latter being the most effective. Most
companies
 choose to target increased
sales
 through advertising campaigns and new products. Marketing and advertising are self-evidently important. Nearly every major company reserves a substantial portion of the budget for television advertisements, online marketing, billboards, and so on.
Companies
 that excel with viral marketing,
such
 as Starbucks, are able to dominate the competition through brand awareness and grow
sales
 consistently.
Furthermore
, the introduction of new products is
also
 a key catalyst.
This
 can include new menu items,
such
 as the recent popularity of Popeye’s new chicken sandwich or technological advances like the electric vehicles produced by Tesla. Though advertising can be extremely persuasive, there is no substitute for a truly revolutionary and unique
product
. The best example of
this
 would be the most successful consumer electronics
product
 in history, the iPhone. When it launched there was no comparable
product
, with Blackberry phones being the closest analogue. The iPhone allowed users to make phone calls, send messages, take photos, check email, and use the internet. These are routine features now but at the time these innovations drove rapid revenue growth and countless other
companies
 raced to replicate their success.
This
 model applies to a range of industries as a novel
product
 can drive demand while a company need only focus on maintaining their supply chain. In conclusion,
sales
 figures rise
as a result
 of marketing strategies and successful innovation, with the latter the single greatest method for generating more revenue.
Companies
 must balance both techniques yet prioritize new ideas whenever possible.
Submitted by bayoumy on

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