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Getting Your Price By Tom Reilly, author of Crush Price Objections (Motivation Press) Getting your price is more than simple economics. There are some salespeople and managers that believe that supply and demand are the only things that affect pricing. If there is more supply than demand, your prices must be low; if there is more demand than supply, your price can be higher. There is some truth to this, but it is not an absolute truth. If it were, we would have economists on the street selling goods and services instead of salespeople. If supply and demand were the only dynamics governing sales, we would not need salespeople, simply pricing sheets with today’s prices that reflect market conditions. All transactions could then be handled electronically. Getting your price is more than supply and demand. How about the relationship with your customer? Is it worth nothing? How about product support? Is it worth nothing? How about your company’s commitment to the industry and its customers? Are these worth nothing? Does your sales ability mean nothing in a supply-and-demand world? Is customer loyalty a thing of the past? For those that buy this supply-and-demand argument as the sole determinant of price, I encourage you to examine those scenarios when there was abundant supply and you didn’t have to meet a cheaper price. There was something about your package that the customer liked and was willing to pay for. For you to argue that it’s all about availability and demand diminishes the value that you and your company bring to the table. I will always argue for the value of a good salesperson and a committed supplier. |
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