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.



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In difficult times, such as the current scenario generated by covid-19, the companies that win will be those that provide greater peace of mind to their customers, even if they sell their products at higher prices.

How to Stop Competing Just for Price?

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Charging tariffs consistent with the positioning of the brand and communicating its differentials with respect to the competition, is essential to stop competing for price and redirect the strategy according to the value of the product.

Ariel Baños, specialist in price management and founder of Fijaciondeprecios.com, explains three strategies to avoid competing only for the price factor, because in these struggles there are no winners and only attract the least loyal customers.

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