Les concurrents sous-cotent vos tarifs. Comment ajustez-vous votre stratégie de prix pour rester compétitif ?

This reminds me of Jeff Bezos's famous quote. "We are not competitor obsessed. We are customer obsessed. We start with what the customer needs and we work backwards". Why does customer buy something from you ? He or she buys something from you because he / she sees the worth, the value in it. When your competitor reduces the prices, is he changing the offering ? Understanding this is crucial. How hugely are you different from your customer ? Why do you always have to do what your competitor does?? Understanding this is crucial. These are very simply said questions but profoundly deep to guide what to sell. It took me quite a few years in practice to understand the real worth of these golden words.

For starters.assess impact is also about what strategy you have for yourself.If your strategy is be a provider of value and stay put at whatever you are providing,then so be it.Its all about how you are able to put the best foot forward in terms of projecting value and communicating the same as confidently as possible.

Assess what differentiates your products/services from your competitors & highlight these in your messaging. Customers may be willing to pay a premium for added value. E.G., "While our competitors may offer lower prices, we provide 24/7 customer support, free installation & a more durable product with a 2-year warranty." If you operate in multiple regions, consider implementing different pricing strategies based on local competition and market conditions. This allows you to remain competitive in more price-sensitive markets while maintaining premium pricing in areas where demand supports it.

In my career, I've learned that competing on price is often a lose-lose situation. Consider this: once, after a dinner at a five-star restaurant where we raved about a $500 bottle of wine, we found the same bottle for $70 at a liquor store. Purchasing a few, we quickly realized it wasn't as special in the hotel lobby. This experience reinforced that the context and perceived value significantly influence satisfaction. I advise against price wars by focusing on enhancing customer experiences and maintaining our brand’s perceived value. This strategy not only preserves our brand image but also increases customer satisfaction, proving that higher prices can indeed reflect and enhance the perceived quality of a product.

A full analysis needs to be done on the reason for price decreases. - Are there more cost effective ways to operate by implementing new technologies? - Are the cheaper products / services of the same quality as ours? I spent many years working for a boutique services provider that offered premium services. We were more expensive, but our pitch highlighted the added value we provided relative to our cheaper competitors and we consistently won new business despite the price discrepancy. Knee jerk price reductions in response to cheaper competition is not advisable without a detailed analysis.

Em minha experiência, entender o valor que seu produto ou serviço oferece é crucial para definir uma estratégia de preços competitiva. Ao identificar e destacar o que diferencia seu produto—seja qualidade superior, atendimento ao cliente excepcional ou recursos inovadores—você pode justificar um preço mais alto. Em uma situação recente, usei essas diferenças como base para nossa estratégia de preços, comunicando claramente aos clientes o valor agregado que oferecíamos. Isso mostrou que, embora não fôssemos os mais baratos, éramos a melhor opção para suas necessidades, o que ajudou a manter nossa posição no mercado e a atrair clientes dispostos a pagar mais por um valor percebido.

This is the most important part.Its also very important to drive home the value in every communication we do.Also ensure that we hear out the customer to get to know what they want.

Also how we position the pricing model or rather frame it makes the difference.Would you be able to get a longer contract terms with a price point which is marginally less with price lock in for 3 years?Would you be able to get the payment terms in your favour so that payments are all collected in advance?Along with pricing model how we frame those pricing to the customers matters the most.

Not all customers are price-sensitive. By segmenting your market, you can tailor your pricing strategy for different customer groups. You might introduce entry-level products at lower prices for budget-conscious customers while maintaining premium pricing for high-end offerings. Consider introducing tiered pricing options or bundling products and services together at a slight discount. This gives customers flexibility and incentivises them to choose a higher-priced option or buy more, increasing overall value without drastically lowering prices. Strengthen customer retention by offering loyalty programs or incentives for repeat customers. This reduces the likelihood of customers switching to lower-priced competitors

Don't get stuck in apples to apples comparisons. Take your offering and bundle in extra value (features, services, status, etc.) that is meaningful to the consumer. Not sure what's meaningful? Pick up the phone and talk to your customers... Ask them. #strategy #innovation #leadership

Esqueça competir em preços baixos, você e seus concorrentes estarão apenas disputando quem quebra primeiro. Busque adicionar valor à sua cadeia, seja oferecendo produtos melhores, experiências melhores ou percepção de valor agregado maior, com um bom trabalho de branding, operação e desenvolvimento. Mesmo quando estiver operando com commodities, é melhor investir o dinheiro em uma operação logística mais rentável e repassar os ganhos de escala.

By carefully considering your value proposition, market segmentation, and customer expectations, you can adjust your pricing strategy to remain competitive without engaging in a race to the bottom. The key is to emphasise value and differentiate your offering to meet customer needs while maintaining profitability.

Comunicar eficazmente o valor que você oferece é essencial, especialmente quando os concorrentes estão reduzindo suas tarifas. Em minha experiência, assegurei que todos os materiais de marketing e argumentos de vendas destacassem os benefícios e os pontos de venda exclusivos das nossas ofertas. Um exemplo foi quando reformulei nossa abordagem de marketing para enfatizar os aspectos diferenciadores dos nossos produtos, como inovação e atendimento personalizado. Isso ajudou a garantir que os clientes percebessem o valor agregado, tornando menos provável que mudassem para um concorrente apenas pelo preço. Reforçar constantemente a proposta de valor da marca em cada interação e oportunidade é uma estratégia vital.