Sales Truths: A Great Value Deserves a Great Price

WHY IT’S TRUE People walk through the door of your store shopping for a gift for someone or something for themselves. They choose your store rather than the one down the street because of their perception of your image and the great value you offer. Price: certainly it’s important, but not the primary reason they just walked through the door. Many customers believe that in today’s marketplace, they can certainly get you to give them a “better price.”

PLAN OF ACTION Considering a $3,000 anniversary gift, the customer says, “What’s your best price?” Mentally pondering his question for a moment, you say, “My best price is $3,500.” The customer will probably say, “Wait a minute, $3,500! I asked for your best price.” You respond by saying, “$3,500 is my best price … $3,000 is my great price!” You’ve just enhanced the value of the purchase and probably closed the sale.

[span class=note]This story is from the November 2010 edition of INSTORE[/span]