Dealing with price sensitivity

摘要

All industries face price sensitivity in varying degrees and at different times. Understanding price sensitivity prepares you for negotiating better deals. By understanding this and proactively preparing for it, you gain pre-emptive selling advantage in negotiation. Customer satisfaction, brand loyalty and customer retention are inversely related to price sensitivity. This means that satisfied, loyal customers are less focused on price. They understand and appreciate your value. You have proven yourself and the impact of your solution. Customers who participate actively in the sale and know more about your product are less sensitive to price. This happens because engaged buyers feel a sense of control and realize they are buy- ing, not just being sold to. It also happens because informed buy- ers who know more about your product understand its value.