Our prices are too high?
When talking about price, buyers often tell him his prices are too high. With the actual economic system, numerous retail stores are underlining discount rate rather than promoting quality & service.
Sales personnel often find that their buyers advise, “YOUR PRICE IS TOO HIGH.”
How do we cope with that comment? How do we get the better of that objection? What is the most booming answer to the objection: “YOUR PRICE IS TOO HIGH?”
Frequently, consumers offer a price objection even though they’ve not made a comparative analysis, and their reference to price might be addressed to their personal economic condition rather than the appraise of the product being considered.
An error salespeople frequently make is to instantly start to answer before they know the basis for a customer’s objection.
It’s significant that you ask the client the reason they made the statement, “YOUR PRICE IS TOO HIGH,” before you start to defend your price. It might well be that your price is excusable and a good value.
Question Their Reasons
2 questions you might wish to believe to assist you in discovering why the customer proposed the price objection are:
Why would you advise that our prices are too high? Allow them to tell you why they said what they did. It might be a typical objection to encourage you to lower your price. Truly and in fact, they might not have done enough shopping to know true quality and value.
Compared to what? When a client suggests: “YOUR PRICE IS TOO HIGH,” ask the question: “Compared to what?”
Encourage the client to explain how much they know about other brands or products that would allow them to arrive at the belief that your product is expensive. Only then can you review features and benefits to make a comparative analysis.
Without “deep knowledge,” the client might not be able to understand the difference between:
- The general quality of the other furniture versus your better goods.
- The quality of competitive brands.
- The added value that your organization brings to the equation.
What About Financing?
The client might suggest “YOUR PRICE IS TOO HIGH,” and rather than referencing your price and product, they might be noticing on their personal economic condition.
If personal finances factor into the decision…
- Consider terms. Are you allowed to offer ninety days same as cash?
- Consider an “easy-pay-plan.” If you extend or accept credit, discourse monthly defrayments.
Break down payments into the lowest common denominator.