What are your products or services worth

Far too often I see businesses reducing the price of their products or services because they feel that this is the only way they can compete with their competitors. Nothing could be farther from the truth then this way of thinking. I call this Wal-mart thinking. Price is not always the reason customers buy. Are there customers who buy from price alone? Yes, but the truth is there are far better reasons for customers to buy then price alone. The first is quality of goods. Better made products cost more and customers understand this, but if the customer is not made aware of the differences then one is just as good as the other and price will win. Second is strength of company. Customers want to buy from a company that has been in business for many years and will be around if something should happen to the goods they have purchased. Third is expertise. Customers want to purchase product or services from experts. People who know their business and can help them solve their problems. If you lower your prices to compete the only message you send to customers is that your prices were to high to begin with and that you offer nothing more than your competition. Stop thinking in terms of cheap and sell the quality the customers desire.