enx magazine

The statement “our costs do change every time we receive new inventory” gets the idea across that with another inventory shipment in the future, the cost may be more competitive.

Saying “we will have to keep an eye on that one” lets the customer know Patrick is looking out for him/her and not just trying to sell, sell, sell.

Then, the answer to the question “Who has it at that price?” lets him know what kind of pricing the competitors are offering. It is not surprising that Patrick is often the top sales person at his company.

More Responses to “Your Price is Too High”

l “If it weren’t for that, you would go ahead and order from us?”

l “Is that the main thing holding you back right now?”

l “Assuming we agreed on price, what else is important to you?”

After asking the three questions above, it is critical that the sales person remains silent until the prospect answers the question.

Five Ways to Handle the Price Objection

If your competitor’s retail price is just a fraction above the price you pay for the same product, there is no way you can lower your price without giving away all of your profit. What do you do?

1. Tell the truth. Admit that you can’t be competitive on this particular product. The customer will respect you for being honest.

2. Offer a generic or a compatible product if you have one. It helps if you have a few testimonial letters from customers who are happy with the generic or compatible product you sell.

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