Page-2: Case Study: Your Price is too high! Dealing with others' perceptions-corect or not-is difficult, at best. Perceptionis subjective reality. What the buyer sees is reality for them. The track record for reason defeating emotion is poor. Emotion obscures reason and blunts solid decision making Your best hope is to fight emotion with emotion Appeal emotionally to the buyer's desire to own the best or provide the best for those for whom they are buying. An emotional pa may be your most effective strategy: "Mr. Buyer, I understand your concems for money also know that a bigger concem for you is to provide the safest environment possible for your employees. Which poses a greater risk for you at this point, paying a more than you anticipated or not getting what you need to provide the safe environment for your folks? If the price objection you're dealing with is ego driven, money is secondary. The buyer uses money as the excuse, but the real objective for this buyer in negotiating is to win. You must bleed, figuratively and significantly. If you don't bleed, they don't feed. Your best strategy is to ask yourself this question before responding to this price objection: How can I help this buyer win without caving in on my prices? Seek ways to help the buyer save face as you maintain your profitability. The buyer needs a win Just because the buyer wants a cheaper price doesn't mean you have to give it to them. Just because you're making money on a sale doesn't mean you have to give some of away. Hold the line. At a minimum, work as hard to hold the line on pricing as the buyer does to white away at your margins Questions: Case Study: Your Price is too high! Questio t. What are the five dreaded words salespeople often hear? 2. Do you have to lower your price in order to handle price objection? 3. If your competition lowers the price do you have to match? 4. Does the market determine your prices? Does the competition determine your prices? 5. Who really controls your pricing? 6. Would you consider lowering price if the prospect objects with no money? 7. How would you motivate buyer when objecting to price? 8. What the prospect is looking for when object higher price? 9. What is the real problem if you could not resolve the price objection? 10. Whyattude-based objections are difficult to resolve? 11. What strategy my work when dealing with emotions-based objection? 12. What is real money objection for the ego driven buyers? 13. What is your advice to new sales professionals when comes to price objection? A copy of your responses will be emailed to the address you provided. Submit