Pricing and Fear of Price

This is a course about sales. And most salespeople have no control over the prices of the products and services they need to sell. So, I am not going to talk about the economics, strategy, or internal politics of setting a price. I want to focus on one ubiquitous phenomenon among salespeople: fear of price, or priceophobia!

The Book of the Course!
Sales Skills: A Management Courses Introduction
This book gives a broad introduction to the topic, for managers and professionals who don’t want or intend to specialize in sales and selling. And as a fast start for someone needing to make a start in selling, for whatever reason.

Watching this video is worth 2 Management Courses CPD Points*.
🔎 See below for details

Sales and Selling Skills
This video is part of course module 8.4.3
Program 8: Managing Customers and Clients
Course 4: Sales / Selling Skills
Section 3: Selling Techniques

Other videos in this section include:

LESSON NOTES
The more the product is a commodity serving a basic need, the more price sensitive its customers will be.

Sell the value and don’t be worried about the price.
Never apologize for the price.

Other things you’ll need to understand:
1. The value that the product or service contributes
2. The capabilities and prices your competitors offer for similar products or services.
3. Your company's overall pricing strategy and how it affects the pricing of the range of products or services they are selling.
4. Customer psychology.
5. How to negotiate price with your prospects.

RECOMMENDED EXERCISE
If you need to sell - or take part in selling - your organization's products or services...
1. Think about the pricing and consider how you can be proud of it. (1 MC CPD Point)
2. Think about the value those products or services can deliver (2 MC CPD Points)
3. Find out more about the capabilities and prices of your competitors' products or services (2 MC CPD Points)
4. Find out more about your company's overall pricing strategy (2 MC CPD Points)

DOWNLOADS
Free Resources
Paid resources

RECOMMENDED READING
There are many books that introduce sales and selling. These are the ones I have, and can recommend:

⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos

MANAGEMENT COURSES CONTINUING PROFESSIONAL DEVELOPMENT (CPD) POINTS
You can record your Management Courses CPD points on our free, downloadable CPD record log.
Each video has two levels of MC CPD points. For this video:
- If you simply watched the video, record 2 MC CPD points
- If you also carried out all of the recommended exercises, score a total of 9 MC CPD points

CHAPTER MARKERS
00:00 - Fear of Price - Priceophobia
00:39 - Commodity product pricing
01:19 - What most customers want
02:37 - Don’t say ‘sorry’.
03:13 - Other things you’ll need
03:24 - No. 1
03:39 - No. 2
04:17 - No. 3
04:48 - No. 4
05:31 - No. 5

#ManagementCourses #Sales #Pricing

[ManagementCourses]

As a salesperson, it makes no sense to be scared to talk about price - yet many are. They worry that the price is too high and customers will balk when the topic comes up. But, come up, it will! So let's address it.

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