How To Return Your Order For Free

How To Return Your Order For Free

Are you suffering from buyer’s remorse? Or don’t like the gifts you have purchased online? No worries. Return it without hassles. How? Here are the few tips to help you to do that.

1) Don’t open it: If you are thinking to return the item, don’t open it and definitely don’t use it. Most of the stores have strict policies about not taking back opened or used products, especially electronics one. Once you use it, even to test it, they won’t be taken back – and you will lose money.

2) Be quick: The first thing you should do after receiving your order is to check the company’s website to know about their return policy. Most of the companies generally give a month to return an item for its original price, and after that, you may get reimbursed for only a fraction of the original costs. Electronics and big-ticket items usually have 14-day return deadline.

3) Find the gift source: If you have received a gift and want to turn it, you need to be extra smart. Try to ask subtly the gift giver the origin of the gift. “Where did you find such a pretty thing?” usually does the trick. But do remember not to rely on the boxes because they are often reused. If you don’t find the answer from the giver, do some online research to see which stores carry the particular item you have. Ask them if they will accept a return or offer an exchange.

4) Always smile: Remember the saying “honey catches more flies than vinegar”? The same goes in real life. Sales people are always busy and hassled. If you return your products with a friendly smile, your process will be done quickly and with the least possible hassles.

5) Use receipt: Without the receipt, you may not get the full price of the product. Or worse, you may have to settle for a store credit. So better use your purchase receipt while returning the item. If the item in question is a gift and you don’t have a receipt – which you definitely won’t – the store may understand your situation. Especially when the item is still in its packaging. If the sales clerk is not being co-operative, ask for the manager.

6) Online returns: Many online stores accept returns. You may not be able to go back to their brick-and-mortar store but you can pack and ship the item to the store. Generally, the companies do not refund the postage costs and so do consider the cost of the product against the postage.

7) Know the return policy: Always know the return policy before you make a purchase. Many sellers don’t take back the merchandise unless it’s defective. Some places refuse to take back the product if it’s opened. And many store charge a restocking fee unless it’s defective. Many times when the item is bought on sale or clearance, you won’t be able to return it.

Share your returning-merchandise experience with us.

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Top 5 Pricing Mistakes

 

Top 10 Pricing Mistakes

In today’s most competitive world, companies are looking for various ways to increase their competitive advantage and improve their overall performance. Most of the companies have already resorted to cost cutting, outsourcing, process re-engineering and adoption of innovative technologies; however, their benefits from these actions are diminishing day by day. They are on the lookout of new strategies, and pricing is the most obvious one. Majority of the companies have already started recognizing this, and so they have started devising pricing strategies. Unfortunately, these strategies aren’t yielding the results they want due to certain errors that they fail to realize. Let’s talk about those errors now.

1) Prices based on costs: When the prices of the products are based on the cost of production, either the price end up being higher than the customers’ perceived value – pushing up the costs of sales – or, being lower than the perceived value – missing the opportunity of maximizing the profit. The bottom line is, the costs are irrelevant when it comes to pricing because they form a lower boundary for the price. The better strategy is to understand the perceived value of your products in the eyes of your customers.

2) Prices based on the marketplace: When you price your products based on the marketplace, you are bowing down to the collective judgment of the crowd about your product. Usually only those companies use marketplace pricing who are laid back about their business, ending up with thin profits. You should rather differentiate your products or services from your competitors.

3) Same profit margin across all product lines: Many financial strategies support uniformity in profit margins across all the product lines. However, this doesn’t work in the real world because each product line has a different set of target audience, and again, these potential customers have different perception about the price of the products. To put it simply, the price of any product line should reflect the target customer’s willingness to pay for that product.

4) Failure to segment customers: Usually customers are segmented into different groups according to your requirements and expectations from the product. The value proposition for products and services is different for different market segments, and hence the pricing strategy should reflect that. But when you fail to segment your customers, you are either overpricing or underpricing your products.

5) Constant prices for long time: Although changing prices on the daily basis doesn’t make business sense, it doesn’t mean that you hold the prices for your products at the same level for years to come ignoring changes in the costs, competitive environment and customer preferences. For better customer service and profit margins, you should update your prices at reasonable period of time and communicate the same to your customers to make sure that the value proposition on both the side matches.

To control the management costs and boost the sales, optimization of pricing strategy is a must. But this task can’t be done offhand. It requires lot of research and proper analysis of the gathered data. You need to tie the pricing strategy with the value perception of the customers. Until and unless this is done, you can’t win customer loyalty, lower cost of sales and enhanced profits.

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