Today's thought is about the other price objection. Not every business will face this price objection, but it is worth discussing, especially if you submit price quotations and proposals.This objection may not be verbalized yet almost always results in loosing the business.
You work hard determining the needs of your potential customer and establishing the value of your products/services. Everything is looking favourable and you are ready to prepare and submit your quotation.
If you look at the accompanying image, at first glance everything looks okay, but upon closer examination something just is not right. Graphic artist M.C. Escher is famous for his so-called impossible structures simplified by this impossible triangle.
The objection I am referring to is the opposite of the most common "Your price is too high."
It is "Your price is too low." The value that you worked so hard on establishing has been betrayed by a low price. The customer has decided that the products/services being offering can not be delivered for the indicated price.
You have heard the phrase "If it sounds too good to be true, it probably is."
Be competitive, not unbelievable.
Good selling,
Richard
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