top of page

Mark Blezard writes...

  • Writer's pictureMark Blezard

Price Points by Mark Blezard

The hidden opportunity

There is a hidden secret in Price Points and how a customer responds to a price, even a ‘price objection’ in sales. The secret is – opportunity: the opportunity to reinvent your service or to move out of one market space and into a more exclusive territory.

Some sales executives fall apart when a customer says, “It’s too expensive” and they cut straight to the bottom-line and start hacking chunks off.

The truth is, this objection means one of two things:

1) They don’t value your product ­­– the salesperson has probably missed several points in the sales qualification process (what the client really needs and how to match your product or service as a solution).

2) Perhaps you are too cheap? If you are struggling with price points and find yourself in a competitive price war, re-evaluate the product, give it a tweak, and raise the price. Lift yourself out of the war zone and into a better space! This is the ‘opportunity’.

Understanding price points by Mark Blezard
Don't be too quick to drop your price

Shoppers often associate brand by price. They automatically assume that the more expensive items are superior. So, if you have a product range that is struggling in a crowded market, lift it out. Make a small packaging adjustment, the ‘Collection’, the ‘Professional Range’, and up the price.

A simple modification to your service – home delivery for example – and you are now selling a ‘Personal Shopper Experience’. If you are selling media or exhibition space, create a ‘zone’ so that your customers feel like they are in the VIP area. It might mean little more than a page or carpet colour change but this is now something special – and costs a little more. They will want to belong to this space.

Understanding price points by Mark Blezard
A small tweak to your service can make you more attactive

12 views0 comments

Recent Posts

See All
bottom of page