I Can Get it Cheaper

February 6, 2012 under Retail Sales Resource

When customers think your price is too high…usually it is because they do not have enough information to justify the price.

It doesn’t really matter how they say it, “Your price is to high” or “I can get it cheaper somewhere else” because weather the customer is correct or not they will think they are right.

How would you react to a statement like this from your customer?  Are you defending your price?  Are you making concessions?  The fact of the matter is…your customer may be thinking “The features and benefits are not worth the price you are asking”!

Your customer will always think “What’s In It For Me” (W.I.I.F.M.)?  In sales we need to find a way to communicate all questions that your customers may have.  Let me assure you…the answers will be different every time! Click here to read more.. »

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Learn from Angry Birds

December 29, 2011 under Retail Sales Resource

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Is Price an Issue?

Price is always much more important in the mind of the seller than in the mind of the buyer

Especially when it comes to bigger investments the consumer will try to solve the problem the best way rather than to save money on the purchase. This is especially true for flooring. When she is buying a fly swatter she might not care about quality. If it breaks after the 40th fly she is just getting a new one. Flooring is an investment with more important objectives than just price.

The sales training firm VASS based in Atlanta conducted a study which found that 67% of salespeople will volunteer to cut prices, without being asked. This usually happens because the sales person doesn’t feel the product and service his company offers is worth the price he is asking for. Not only the sales person does his job, a good customer has to do her job as well: to get the best possible product and service for the best price.
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Wine About Prices

Wine Study Shows Price Influences Perception

PASADENA, Calif.– A rose by any other name might smell as sweet, but slap on a hefty price tag, and our opinion of it might go through the roof. At least that’s the case with the taste of wine, say scientists from the California Institute of Technology and Stanford University. Professor Antonio Rangel and his colleagues had 20 volunteers taste five wine samples which, they were told, were identified by their different retail prices: $5, $10, $35, $45, and $90 per bottle. Click here to read more.. »

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