Become a Premium Provider. Stick with the premium level of service if you plan to maintain your premium pricing strategy. Help your customers understand why your prices are higher. If you know how competitors are undercutting your prices, and you feel the competitors' lower cost equates to poorer quality or service, explain this difference. You would be surprised how many business owners declare they offer superior service simply because their people are friendly. I heard one business traveller’s tale about a trip to a Florida hotel. A member of the housekeeping staff at the hotel saw my friend approaching the elevator. While my friend was still 70 feet away, the staff member pressed the elevator button and held it open until he arrived. Just explain why your product or service is worth the investment but be a little flexible for long-time customers. Give employees freedom in dealing with customers, but make sure they know which customers are worthy of special treatment. Another disadvantage to playing the discount game is that this strategy is the fastest way to push your product or service into the commodity category. The challenge is to create and sustain a brand that supports your premium pricing strategy. The smaller, newer company, run by an entrepreneur, submitted a bid for $4,800. The more established AC company, celebrating its 30th anniversary, submitted a bid for nearly $5,300. While offering significant savings, the entrepreneur did not realize he was competing based on both price and permanence. The entrepreneur would have won the business if he had projected more stability.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath