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The price can be higher than the competition as long as the prospect feels it’s justified in terms of the values and benefits offered. The best way to justify the price is with more benefits. Rarely is price the dominant factor.
The prospect is always asking this question. The answer to it is not features, but rather benefits. Rarely is any one feature worth the price, but it’s possible that one benefit is worth the price.
Good Day!!!
Agreed with the answer given by Mr. VENKITARAMAN KRISHNA MOORTHY VRINDAVAN.
If the price is more than the price of your competitors, you can compere the product and repharse advantages of your product and can talk about the quality you are offering..............
Re-order his priorities by moving his thoughts from the price to the benefits and added values of your products.
The price is the value paid to get a commodity or service. I can explain the added value that this commodity / service satisfies for the prospected customer.
Dear Customer, You have the right to say so, Thank you. We have fixed the price for you after all possible considerations. We hope this is the best price we can offer for you. Any way we will try for a minor discount to value your words.
Reassess the need and link it with offered benefits and advantages required and put them all as required values for money.
Quality is an expensive issue sometimes. You have to demonstrate that your service/product deserves that price
Look , There is three types of customers .
Which we have in open market. A-Category . B-Category . C-Category .
Your Product is for A-Category customers, It’s price ,quality , brand ,etc .everything is fine ….So leave it.
Doesn’t matter what others says or think , Because the specific one is not for them. That’s it - Practically True.
There are many many answers to this question , keeping in mind that we cannot close the sale usually in one call/visit. Here are few answers:
- Well, we should compare apple to apple
- On what basis you find it high
- Well, should I consider this as a complement, hahaha,
- I assure you that after a second look, our price would be the cheapest
- OK, from scale1-10, where do you rate us?...why?
- I would say our price is too high, but not for you... you deserve the best
- This is very weird, you must be kidding! May I know how
- Our sales does not say so
- Your purchases from us proves that we have long relation ship with us, we'll try to make it work for you
- Dear, we are here to serve you not to abuse you, believe me! Let's see how we can serve you best
- Of course, you have your reasons, I respect it. But may I know more details about this?
The idea from any of these answers, is to achieve certain issues as follows:
1) Gain the customer trust
2) Get his friendship
3) Get the WOW on your Company, Product and yourself
4) Get the information
5) Gain more time to close the deal
6) Make him believe that you want to help him , not take his money
One last word which summarizes all this ... "LOYALTY"
First and foremost, I will ask him why he says so.Whether he has any genuine reasons to say so. Most of the time customers are habitual of saying so with a view to bargain. Asking such a question helps us to get market feedback too. Some new competitor may have entered the market, or old competitor may be selling it at a discount.
If the customer actually is right in saying so, then I will talk of quality & value added services we provide. Or offer him a discount.
