In every sales reps career; at some point or another, you will need to convince a buyer that your price is the right one. Not too high; not too low....but just right.
I answered a linked in question last week about price. The post wanted to know how to beat a larger competitors product that was priced lower than his. (Some users answering the question wanted to know why the larger competitors product was actually priced better...)
While diving into the price comparison matrix could be useful...I highly doubt it will sell more units or close more deals.
As sales people we don't usually set the price, inventory levels, construction process or any other aspects of our products.
The price is the price:
You have a product and a price. Our job is to convince buyers to buy. Your best resource to improve your sales is to invert your thinking on price. Don't think of the lowest price as the best price. Cheapest doesn't mean best; just as the highest price doesn't mean the best. Don't sit around worrying about what you likely can't control.
Build value into your presentations:
Understand how to create value in your sales presentations. A Ferarri is a Ferarri for a reason. Ferrari and other luxury brands have done a great job building value into presentations. Building value into your presentation shows the buyer how your product solves a problem the buyer has.
Perhaps your products are warehoused locally; allowing your buyer to react to orders more quickly than your competitor's warehouse across the country.
A sharp buyer understand that your companies quick shipping times may actually free up his inventory cash flow by not having to hold large amounts of inventory.
The better you build value into your presentations the more deals you will close.
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