| Topic : How to enhance pricing levels and still remain competitive |
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Activity:
Question posted: 02 23 2010 05:50:43 +0000,
3 answers, 104 views, last activity
07 06 2010 20:18:08 +0000
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Today, I noticed that one of my competitor who is the first mover in the industry and has great reputation in the market has sliced their pricing by half of its original prices and come to the level of pricing we are offering. So far our sales USP was our pricing, we were convincing our clients that you could get the same quality in half of the prices that our competitor is offering in just double of our pricing but now as our main competitor has sliced its pricing, now I feel that we have to change our sales pitch.
I was wondering to know how can I retain our customers who have associated with us due to the fact that we were offering services on affordable prices as compared to our competitor and how we should market ourselves now?
That is a good sign!!
By pricing it at half the competitors level, you have placed your product on a pedestal that says, " Here I am. I am equally good and I am more cheaper than my early starters. I am here to stay and I care for your hard earned money!"... The competition lowering prices means that you have been able to cause a dent in their cash flow and hence have made them change their strategy!! Manish you are in a brilliant position to launch a counter action.
You have actually got the competition by their thorats and have been successfully able to announce to your customers that you knew what the product is worth and what is the worth of every customer who has suppoerted you!! Need I say more?? :))
Thank you Mr. Aras
Good strategy Makrand .... appreciated
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