When the Buyer Only Cares About the Price

There is a type of client whose only priority is paying the lowest price, even if that means sacrificing quality, brand recognition, or delivery time.

Wednesday, July 30, 2014

What can we do when price becomes the main obstacle to closing a sale? Many companies become frustrated with customers whose only priority seems to be the price.

Here are three keys to identify and profiting from "price shoppers":

By Ariel Baños
President and founder of FIJACIONDEPRECIOS.COM

My customers buy only because of the price alone: ​​reality or hype?

"'I've tried everything, but nothing works. My customers only buy based on price. " Lowering their arms, overwhelmed by the situation, many companies I deal with, confess to giving in to what appears to be an unsolvable problem: customers only care about paying the lowest price.

Another way of putting it is to say that these clients fall into the category of "price shoppers". For these customers the only priority is paying the least amount of money possible, and in return for this they do not hesitate to sacrifice other attributes such as quality, brand recognition, delivery time, among other things.

More on this topic

Keys to Stop Competing for Price

April 2019

Identifying a segment that values the differentials of the product or service and charging a price aligned with the company's strategy are essential to avoid competing with the lowest prices in the market.

Ariel Baños, specialist in price management and founder of Fijaciondeprecios.com, explains how through the implementation of an appropriate strategy, it is possible to compete in a market where there are suppliers who charge derisory prices.

Prices: The Myth of the Ideal Margin

August 2018

The search for the ideal margin is an aim that keeps a lot of business owners up late at night, but this kind of reasoning does not always help them be more profitable.

In general, those who ask themselves what price they should set for their product, start from an incorrect premise: using the cost as a starting point. 

What Uber Knows About Pricing

May 2016

In addition to revolutionizing the concept of transport in cities, Uber is also an example of how trends in price management are changing within companies.

The processes and methods followed by businesses to determine the sales prices of their goods and services are changing as fast as the tastes and preferences of consumers.

Keys to Setting Prices

March 2015

The ten fundamental points to consider when defining a company's pricing policy, and actions to take to determination them.

By Ariel Baños
President and founder of Fijaciondeprecios.com

1. I will use the cost discover the floor price and profitability, never to set the price.

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