What are tactics that companys can use to help customers see passed price, especially when they are hung up on how much the item costs....
*** Answer needs to be approximetly 750-1000 words***© BrainMass Inc. brainmass.com September 24, 2018, 7:12 pm ad1c9bdddf - https://brainmass.com/business/business-management/pricing-tactics-helping-customers-see-passed-price-259655
Thank you for posting today. It is my goal to provide ideas, definitions, research help, and instructions on how you, the student, should approach the assignment.
Basically, your question is asking about how to overcome a price objection. This is very common for sales people to encounter.
"There is no secret to "overcoming" the price objection. The truth is that the price objection cannot be overcome. That is because it isn't intended to be overcome. It is meant to be resolved through thought facilitation by a sales person. The sales person's role is to help the prospect work through the price concern as opposed to attempting to overcome it.
First, can we agree that it isn't really an objection? It is a concern. I know that many sales books call it an objection, but it is not. It is an attempt by the prospect to resolve financial questions in their mind. People want to feel good about decisions they make and that is why concerns are brought up.
The mistake many sales people make is that they think they understand the prospect's concern when the price issue is initially raised. A fatal flaw, indeed! The truth is that the cause for this concern isn't initially known. A myriad of possibilities could be causing this to come up now such as:
Is it a question of how much use they will get of the product?
Is it whether or not they can afford it?
Is it that they saw a similar product at a cheaper price?
Or is it a ...
The expert examines pricing tactics.