How Can You Sell When You're Not The Lowest Price?

You know why you have priced above the rest? If the answer is yes, then the entire selling proposition will hinge on the communication that reaches the buyer! The campaign has to be assertive and speak of why pay more and get the best!

Its like in todays market a SONY sells so does a Videocon! They are world apart in terms of market presence! Yet a brand like BOSE has carved a niche for itself! So the strategy and the proposition has to be perfect to make the consumer understand why is he buying a product for a higher price as against those available at cheaper price!

Suppose the equipment didn't work the way it was supposed to?than manufacturer may shut down production lines, spend weeks trying to make things right, cause all sorts of havoc in the plant, and potentially even lose his job. Now that's risk.  It wouldn't be hard to justify a price double that.So,we have to put ourself in customer's shoes know what exactly they want  &  follow up the strategies

Here are four strategies to do so.

1Build solid, deep relationships with the key decision-makers.

2 Make ample use of third party recommendations, customer lists, case studies and testimonials.

3Try to get your customer as physically involved with the product as possible.

4 Finally, work with your company to create offers that reduce the risk.

According to me you can't sit back when you have rapport with engineer, branch manager and even CIO. You need to cast a net covering whole org chart Which will help for doing all major account sales. The only way to reduce both client's and your risk is to understand more about your client. That will set a solid stepping stone, or remind you to quit at right time.
Secondly make  sales strategy flexible rather than sticking to single approach. Google/Overture and other Internet tools lay out a low cost and flat platform allowing fast/effective/niche oriented sales, We can jump on these powerful vehicles to gain better marketing effect and quick sale. Back to corporate sales, follow the Trusted-adviser approach for big fish.

The selling of a product doesnt only depend on the Price, there are some important factor which goes into doing so,

- Communication [As Mentioned by Mr. Makrand] is one of the key points. you need to understand what the customers are looking for and give them the same

- Target Group: this part is very crucial/critical as you will have to make sure that the target audience which you have chosen is correct for the type/range of product you are selling. e.g. everyone needs soap, but some use lux some use dove some use local brands. it depends on who is your target, basedon which you define the price and communication.

- Approach: there are multiple ways how you can reach out to your TG. you need to find the fastest and most effective way to do so. this again depends on what kind of product you are selling. e.g. if its a software for business people it doent make sense to advertise it on the television where there are family serials going on. it makes more sense to pick business/news channels and an appropriate time to display the Ad which will be right to reach your TG. [this was the simplest example as TV is what everyone can related to and think much faster.]

- Brand: its very important that people know the brand. but again it depends on the TG. people who look out for local products dont really care about the brand. they are more cost concerned than the quality. but if the TG is a class of people who would be loyal to a brand than breaking/building that loyalty would be a difficult task. in that case, it will be a smarter idea to build the new brand and product information and use different BTL marketing methods.

i believe its all about how you project yourself to the right people. it doesnt really matter whats the cost of the product is, what matters is

- Brand Image
- Target Group
- Quality of the Product [the product always speaks for itself]
- Communication