How should we respond to customer who press us for a lower price?

Question

topic from strategic marketing -posed by marketers please give me a good answear for this question

Answer 1

Just be honest.

If you can't go lower, say "I have to make a living, this is the least for which I can do the job."

If you just feel you're worth it, say "I'm sorry, but this is an exceptionally valuable product/service."

I use the latter all the time. It's not worth racing customers to the bottom on price. They'll just hound you for an even lower price the next time.

Answer 2

If you can barter with the customer, if you work somewhere as with most places that have fixed prices just let the person know that you cannot give him a lower price.   If the workplace gives discounts for signing up for a credit card suggest that!

Answer 3

Compensate. Meet in the middle and if they won't do that, BAM! They are out that door. Sayonara!

Answer 4

If you have a customer whose a repeat buyer, yes lower the price.  Happy customers equal free advertising.  They tell friends, associates.  Word-of-mouth advertising spreads faster than a wild fire.  

However, I wouldn't lower the price just because someone wants you to.

Answer 5

Tell them you can lower the price but you'll also have to remove some of the value.

Emphasise the value they are receiving  - if they insist on a lower price, be prepared to let them go elsewhere for a cheaper price.  It's unlikely they'll get the same value.

I mangage a rental apartment building and on both sides of me there are buildings with cheaper aparments.  Prospective tenants will often go and come several times and ask for me to reduce my rents in line with my neighbours - I never do because I am confident in the value of the apartments in my building  - and if the neighbouring cheaper apartments were so great they would take those apartments and not come back to see mine.

Know your value and honour it.

Answer 6

Depends on what kind of customer they are.

If they are one of your largest customers then by all means work with them. If they are an average joe customer, explain that your prices are set because of abc, etc. A really large customer should get a bit of a break though.

Answer 7

You can respond to this customer in one of three ways:

1. you can refuse to lower your price and risk losing future business from the customer.

2. you can lower your price and reduce your profitability on the item. At the same time, you may risk setting a precedent among your sales people that it's fine to lower prices just to make the sale (and further lower your margins).

3. you can negotiate with the buyer and meet somewhere in the middle. If you value the customer's business and want them to feel as though you at least entertained their request to lower a price, this may be the best way to go.

If the same customer is always trying to work a deal, then it may be less expensive in the long run to simply let them buy from your competitor.

There is a perception in the world that the price on any item - whether it be in a retail store at a yard sale, is open to negotiation. The Internet has helped foster this attitude, somewhat, in that savvy shoppers know how to shop around and are willing to leverage one retailer/seller against another in order to get the best deal. This works on everything from automobiles and jewelry to you name it.

As the business owner, it is up to you whether you decide to accept this or stick to your price stickers.

Answer 8

Hi,

I have a lot of experience marketing small companies online (I have 3 companies).  One of the best ways is to sign up at business directories and protals.  These are basically listings of businesses (simliar to the phone book).  The advantage is that these portals usually get a lot of traffic and they're ranked high on Google because of all the quality links they contain.

My favorite portal is called Directory Exclusive.  I signed up a few weeks ago because they're giving a away a free business card holder when a person enter's their company info.  I received it in the mail 3 days ago =)

I don't know if they still have that promotion, but you can try to get the free card holder here:

http://www.exclusive-directory-listings....

Good Luck

Answer 9

go get a job..cuz seriously that person does not have enogh money for whatever he or she or .. it....then they should get a job...or two.. or 3... or you get it

..... buy....it or leave it..

bye ..

hehhehehhe

Answer 10

Our prices are set based on what we pay for the product and a reasonable profit ...