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To handle price objections, you need to be sharp in listening and communication skills.
There may be certain responses from customers. What you need is to listen them carefully and evaluate to ensure you understand the objection properly.
Acknowledge the customer's point of view and and then respond to them accordingly.
Ensure that your answer meets the customer's concern by monitoring his verbal or gestural responses, if positive, ask for the business.
In professional selling they do not differentiate objections.If ever you come across any objection then you will have to handle it immediately. Ask the the prospect WHY? ask an open ended question. when you get an answer then according to the answer you need to proceed further.
I agree with vehap & padmakumar. We have to find the correct position & then improvise our response. No standard technique.
For the price objection, ask the details from the customer in addition to your own best efforts. The customer is the best person who can tell you the correct details and the source, respect his words rather than arguing convince and retain him with appropriate relaxations in the best possible way, this time itself or with subsequent instances-all promises should be invariably kept.
