Product Trial & Repeat Purchase

When consumers buy a good for the first time and asses whether or not they wish to buy the product again
Sales or Orders from consumers who have bought in the past or before. Also commonly known as repeat business
Advantages and Disadvantages
1. Advantages for Product Trial include: easy way to get interest in your product and get future customers, can be very successful and effective in doing its job.
  1. Advantages for Repeat Purchase include: more profitable customers, more revenue, more profit and also a good indicator of customer satisfaction if they are willing to buy multiple times from one outlet
2. Disadvantages of Product Trial include: Can be very costly when giving away free or discount items without and revenue or profit on that product, can be negatively received and more established products may still be preffered.
  1. Disadvantages of Repeat Purchase include: One minor fault may stop repeat purchase (fragile and hard to keep), higher prices may end repeat purchase and send customers elsewhere.
Examples and Methods include: Free items, Trial Runs, Discount Pricing (Penetration Prices), Trial (30 Day Trial)

Resource summary

	Created by Joeybana99 over 9 years ago