What happen if your Customers ask you for the Best Price?
A WA friend recently posted such a question on Facebook
“What happen if your customers ask you for the best price?”
He lamented that his price is already at the lowest!
There are several ways we can tackle on such issues
1) Research the market place for your competitors’ rate
2) Know your worth and not let desperate takes over you.
3) Offering a discount to a particular customer would be unfair to other customers
4) Don’t to afraid to reject people looking for unreasonable discounts
5) Be Transparent in your pricing
6) Educate and show them the real value
7) Avoid spoiling the market with low prices
One way he can do is to work up a package for the tight budget that features a lower priority.
Some Marketers promote scarcity: giving discounts for only a short period before raising the price.
An Established Marketer tends to stand firm to his price.
Instead of giving discounts, try to build up the Brand with quality and good services.
Loyal supporters will not ask for discounts when they know the product’s worth.
So what is your thoughts on this?
Recent Comments
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Item 6 hits home.
But if they are only concerned with the price and not the value it is a hard mindset to overcome.
Assure them that the value you provide is well worth the price.
Sometimes a customer isn't the right fit. You need to know when to allow them to be someone else's problem.
Yes, if the customer understands the real value in the product, he will be a willing payee.
Great post Sadie, although there are places in the world where you are expected to bargain, it is not the norm around the world. Japan is a prime example. Tipping and haggling for a lower price is frowned upon. The value set is what the Marketer believes the object or service is worth, no more, no less.
For Me: In our business there is no discount unless there is a promotion. Mostly our promotions are value added. So if something normally sells for $200, in the promotion period the purchaser maybe get something extra that sells for $50. But that $50 item may only cost us $20 or in some cases $0. So we add high perceived value at low cost.
Cheers, William.
You can give them the reassurance that the price is steady and there are NO upsells of any kind. Even when you go to university, there is always something you have to purchase afterwards, a book, a lab coat, a calculator etc. it looks endless sometimes.
Good advice Sadie. Only in a firesale (I hate these!) should a low price be offered and having subsequent rises when items sell.
Terry
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I am a buyer by trade. One question I always have to ask is- "is this your best best?, or something of that nature. Then I can know if the seller is willing to offer anything more.
Yes, Sometimes, I do request for a good price if I am buying a few ranges of products.