Dying by Price

The very best of times are stimulated by the very worst of times...

for those companies that have the right focus.

Needing the sale to cover costs, for example, leads to focusing on price before value.

When you focus on price, then you are electing for a slow death…

Because low margins demand nonsensical cost-cutting in marketing and investment...
Low margins lead to poor profits, high borrowing and liquidation.

But, with competitors lowering prices and consumers seeking best deals, what can be done?

First, remember…
that customers consider best deals to be when they are most valued...
that marketing is about building relationships and following through...
that profit is applause for delivering a great performance.

Second, adopt strategies that increase perceived value including absolutely unbeatable follow-through service.

Third, target new customers that fit the profile of your best customers...
the ones that already appreciate the way you value them and give you the least hassle on price.

And fourth, re-invest the profit from the higher margins in delivering even better marketing, value and service.

Living by price leads to dying by price.
Focusing on delivering value leads to the best of times.