Trading up
Trading-up refers to a corporate policy strategy that aims to improve the range of services offered by a trading company. Trading-up is therefore a fundamental option in operational program planning.
The focus is on the orientation of the trading company on the expansion of advice , customer service and business equipment in order to bind existing customers more strongly to the trading company through better quality services or to open up new target groups and achieve higher prices.
Typical measures can include, for example, expanding, deepening and shifting the range in favor of higher-quality goods or improving product presentation.
If the competition is strong and growth is slow, the opposite strategy of trading down is used, in which one takes over simpler, inexpensive sales methods from other companies in order to avoid further churning of existing customers.
Individual evidence
- ↑ Trading-up - definition in the Gabler Wirtschaftslexikon.
- ^ Heribert Meffert: Marketing . Gabler, ISBN 978-3-409-69018-8 , page 404.
Web links
- Trading-up - definition in the Gabler business dictionary