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Tag: how to increase profit in business
The reason many small business owners fail is that their clientele is mostly comprised of lower-end customers. The business owners, therefore, concentrate all their efforts on marketing their low priced items to pull in more customers to their businesses. This, however, does not give them the high-profit margins that they are looking for. They should focus their efforts on marketing their products to the high-end clientele instead, who will buy more expensive products that have higher profit margins. The lower profit products should be there as an alternative for those customers who cannot afford the expensive products.