a 'good deal' because we want to receive maximum value for
our money. The key to building your business is to know HOW
your customers MEASURE a 'bargain.'
When we buy a product where the features and benefits from
various suppliers are virtually identical, a bargain is
almost always measured in terms of low price. When we buy a
bag of rice or a box of corn flakes, for most of us the
brand makes little difference. We want a low price and will
often buy the brand that is on sale.
On the other hand, when we are buying a product or service
where we believe quality, reliability or other essentials
could vary widely, price becomes secondary. Who shops for
the cheapest brain surgeon?
Many professionals and small business owners make a mistake
in trying to compete on the basis of price, when they would
be far better off emphasizing the qualities that their
customers value most highly.
Everyone can recall choosing a restaurant because of the
atmosphere, superior service or extra attention we
receive. Especially for a special occasion, we may drive
many miles and pay extra to be certain we will get a
'bargain' in terms of a delightful dinner experience.
Most of us hire our attorney, our accountant, dentist
and physician for reasons other than low price. Perhaps
location and convenience were critical factors, or the
recommendation of a trusted friend may have been important.
Perhaps they have a specialty we value, or we may have been
impressed with their competence.
The same principles apply in selling your services! Find
out what your customers want, how they define a 'bargain'
and focus on THAT, every single time, to every single client.
Author: Philip Humbert, Phd
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