Career Planet
    Facebook X (Twitter) Instagram
    • About us
    • Advertisers
    • Contact us
    Facebook
    Career Planet
    • Home
    • I’m unemployed
    • Training
      • TVET Colleges
        • TVET training
        • TVET grad-zone
        • TVET news
      • Private Colleges
      • Universities
      • Universities of Technology
      • Training Providers
      • Training Options
      • The SA training landscape
      • Financing Your Studies
      • Bursaries
      • Online Books
    • My career
      • Career planning
        • Tools 4 school
      • Job Descriptions
      • Entrepreneurship
        • South Africa needs entrepreneurs
        • You are not alone: business coaching, advice & support
        • Business development support
        • Tips and tools for entrepreneurs
        • Career Planet entrepreneur showcase
        • Support for business growth sectors
      • Working world
        • Get workwise
        • Women @ Work
        • The future of work
        • Diversity @ Work
    • Personal Growth
      • 1 Minute Finishing School
      • The world is my classroom
      • Body, Mind & Spirit
      • Personal management
      • Personal branding
      • Parents & guardians
    • Opportunities
      • Free skills training
      • Apprenticeships
      • Internships
      • Learnerships
      • Bursaries
    • FAQ
    • Industry access focus series
      • 1. Welcome to the world of BPO careers
      • 2. All about BPO
      • 3. BPO Job descriptions
      • 4. BPO skills development
      • 5. Is BPO for you?
      • 6. BPO Job opportunities
    • Artisan careers
    Career Planet
    Smart thinking

    Smart Pricing: How to sell against lower-priced competition

    Career PlanetBy Career Planet10 Dec 2018No Comments3 Mins Read

    Smart Pricing: How to sell against lower-priced competition

    What are your products or services really worth? How much will customers pay? Where will your competitors respond?

    The first step in effective pricing is to determine your competitive advantage and use it to effectively differentiate your product. Failing to do this, you will be seen as simply selling a commodity. The moment you are selling a commodity then price is always the primary issue on the minds of your prospects.

    Pricing is the most powerful profit driver and the convincing element in product positioning. Unfortunately, pricing is very often the most neglected element of the marketing mix.

    It is essential that you sell your product or service on the basis of a strong competitive advantage.

    You could select quality as your competitive advantage.

    Most sales reps will instinctively demand for lower price to be the competitive advantage. Low price is one way for you to compete. But, it’s probably the dumbest strategy to try and compete on for customers.

    If you want to effectively position yourself as a professional salesperson then you must urgently learn two things:

    1. The first is to compete on something other than low price.
    2. The second is that the only aspect of virtually any product or service that is extremely important to every prospect is quality.

    How important and sustainable, as a competitive advantage, is the quality of your product or service? It’s vitally important. In many instances, it is the most important reason your prospect buys.

    How do you sell quality as a benefit? Selling quality is easy. But only if you truly possess quality and you know what it is.

    The real truth is that virtually everybody does have some sort of quality. Unfortunately, not everyone knows what quality means, and consequently they have a tough time selling it. They assume that all clients and prospects know what quality is. They don’t!

    Quality, like all benefits, must effectively be positioned in the eyes of your prospect and client. Do you clearly and constantly articulate and demonstrate the quality of your products or services in the eyes and minds of the potential buyer?

    Quality means fully meeting the expectations of your prospects.

    Smart salespeople who sell at premium prices know that they can use a high price to make a credibility statement about their product or service being better; that is, if it costs more, it probably is worth more.

    Allow price to be your competitive advantage, a higher price can make a statement about quality and credibility.

    Always remember that the bitterness of poor quality remains long after the sweetness of low price is forgotten.

    Article by John Lloyd, Brandstorm

     

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Career Planet

    Related Posts

    How to work on your business, not in your business

    10 Dec 2018

    How to survive in an age of devastating disruption

    10 Dec 2018

    9 Powerful ways to crush your sales goals in 2019

    8 Dec 2018
    BLOG
    Home page news

    What is Cloud Computing?

    By Team Career Planet5 Jun 2022
    Home page news

    From Grade 9 to PhD through TVET College.

    By laeniadmin4 May 2022
    Home page news

    Student hones his skills for greater employment prospects.

    By Team Career Planet4 May 2022
    Home page news

    Registered Field Guide is living the dream!

    By Team Career Planet17 May 2022
    Home page news

    Junior Achievement SA Skills Development opportunities

    By Team Career Planet28 Apr 2022
    About Us
    About Us

    Career Planet is a Section 21 (not-for-profit) company and believes in connecting young people with opportunities for FREE through our website and on their cellphones!

    Career Planet is a registered PBO (No. 930025803) that has been helping young people with career advice and access to training and opportunities since 2008. Our operations are funded through a combination of donations and sponsorships that offer a return on investment.

    NPO number: 129-906
    PBO number: 930025803

    Quick Links
    Home
    Your career
    Working world
    Training
    Entrepreneurship
    Personal Growth
    Opportunities
    FAQ
    Contact us
    Newsletter Subscribe
    Receive news and updates, upcoming events and more

    Lists*

    Loading
    Copyright © 2021 Career Planet. All rights reserved. Website - evoDev.  Maintenance - Dezigner Lane.
    • About us
    • Terms and Conditions
    • Privacy Policy
    • Contact us

    Type above and press Enter to search. Press Esc to cancel.