- April 29, 2015
- Posted by: greendot
- Category: entrepreneur, Marketing and sales, retail, sales, strategy
Do you really think that selling with the lower price will able to lead and create the market. ?
Here are the 9 reason why selling at the lower price don’t work.
1. Once you start giving discount on the price they start asking/ Expecting for the every time you sell.
2. as you have reduced your profit margin, you are really not much interested to take care of the customer which ultimately leads to customer dis- satisfaction. ultimately you will be spoiling your brand image, for which you have spent a lot of money in Branding and advertising.
3. Low prices attract cheap customers, who will haggle with you about everything.
4.You’re making less profit , which means you have fewer resources to help you grow your business. If your company isn’t making money, you’re not going to stay in business for long. keep in mind your business is for generation of profit.
5.Selling on a low price is not selling; it’s order taking. Your objective as a salesperson is to help uncover needs you can help the customer solve.
6. if you reduce the price your competitor may again reduced it and ultimately a customer is getting benefited out of it. instead of reducing the price, show how the value addition are there, handle customer objection and close the deal.
7. in all case if your sales is too much competitive, put best price. Many time business owner want to test the negotiation skill of the customer, One time you can take more money, it will be not longer.
8. Keep price fair, show value addition, Remain unique, with product, if you have hard core competition develop new product which have less competition. innovation is a key to keep out of taking order with negotiation