Question from a reader:”What is the number one thing that matters when you are trying to sell something these days? With the economy lousy I say that it is price.”
My answer is that yes, I would agree with you that price is probably the number one thing that you need to have competitive but depending on what you are selling, if it is a product or service, that may actually be item number two or four.
People want value for their money and want to feel that they get something for what they are shelling out cash (or credit) for. If you are selling a name brand type of clothing cheaper than a chain store the chances are good that you will make some sales. For other things, like automobiles, it doesn’t matter if you are pricing the cars inexpensively if the person buying the car can’t afford it.
Using the analogy of a doctor, I am not sure that I would go with the lowest bidding doctor on a medical plan (and yet, that sometimes is what happens with doctors and insurance carriers and their reimbursement programs). If you offer killer diller service, no matter what business you are in, you will get sales. They may not be as great as you want them to be for right now because of the economy but you still will get sales. Often people will pay a little more for a better quality of product (shoes that won’t come apart, clothing that won’t burst into flames, food that won’t poison you, etc) and even in rough economic times like the era we are in (Depression), people still will pay for some value items. For a lot more, they will weigh what they are buying very carefully because their dollars are being stretched and their savings may be tapped out. If you are offering something fairly priced that they need and offering super service, you will make the sale,regardless of the time of economic environment that we are in.
Good luck with your business and I hope that you are doing well.
April 26 2009
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Kim Isaac Greenblatt
What Matters With Your Business