Lowering your price to compete with your competitor’s pricing sends a strong signal to your prospective clients. Unfortunately, that signal isn’t what you might believe it to be.A Question of ValueYou believe lowering your price will signal that you are a greater value, and that your dream client will believe they can have what they really want while paying less. You believe that a lower price will position you as an alternative to your competitor’s price, which some people will surely feel is too high. You know that some people will in fact buy based on your lower price.But the lower price is a different signal to other people. Even though you may not like this, your lower price may be perceived as an admission that your offering isn’t as good or complete as your competitor’s offering. Some of your dream clients will see this as your capitulation, your surrendering the higher value play to your competitor. Those prospects who want the very best will often believe that something with a lower price is inferior.Price is a ShortcutPricing is a heuristic; it’s something that lets us learn something for ourselves. When you buy something that you believe is a bargain and it fails to deliver value, you have learned that lower price often means you are making concessions when it comes to value. When you pay more, you learn that things of higher quality tend to cost more, and they also tend to outperform similar items that cost less.Like much else we do in sales, we project our beliefs about what we sell, sometimes unknowingly. A lower price can make it easier for you to acquire clients who care deeply about price. Many of these same clients believe price and cost are the same thing. A higher price can make it easier for you to acquire clients who care deeply about value, and who recognize that paying more delivers that greater value.Pricing isn’t easy. But moving prices down may not accomplish what you hope it does, and it may cause longer term damage to your overall strategy. Moving prices up is a show of confidence, that you are flexing your value creation muscles, proving that you are in the same category as what might have been a higher priced competitor.Make sure you move pricing in the direction that helps you accomplish your strategic goals.
Kenyan world record holder and defending champion Brigid Kosgei cruised to a dominant victory in the 40th London Marathon on Sunday, overcoming her rivals on an unfamiliar multi-lap course in relentless rain to triumph in two hours, 18.58 minutes.Running her first marathon since setting the world record of 2:14.04 in Chicago a year ago, Kosgei ran alongside compatriot Ruth Chepngetich until around the 20-mile mark, when she forged clear to open a lead of about 50 meters within a couple of minutes.She then ran strongly for the rest of the race to finish around three minutes clear. American Sara Hall produced an incredible finish, wiping out a huge deficit over the last few hundred meters to sweep past world champion Chepngetich almost on the line to finish in 2:22.01 to the Kenyan’s 2:22.05.Wrapped in a huge coat at the finish area, the tiny Kosgei said it had been a tough day. “It was wonderful to race but we haven’t been able to prepare well because of COVID, and because of the weather today it was a struggle up to the moment I finished,” she said. The race, originally postponed from April because of the COVID-19 pandemic, was run over 19.8 laps of a fenced-off course in a “controlled secure biosphere” around St James’s Park, with the finish line in its traditional place on The Mall.Hall’s remarkable sprint finish meant she bettered her personal best by 15 seconds and meant she had 15,000 dollars to donate to the Ethiopian children’s charity she is supporting with all her prize money. Kosgei won 30,000 dollars.Eliud Kipchoge is the red-hot favorite to win the men’s race on the same course later on Sunday after his main rival Kenenisa Bekele withdrew on Friday with a calf injury.Topics :
we all know that the advantages of the small business market is now more, many entrepreneurs want to develop their own business to small cities, the gap is also very large market! So in the county business shop which industries will be better?