article thumbnail

Pricing Erosion: Definition, Causes, and How to Avoid It

TrackStreet

In a competitive industry for a specific type of product or service, businesses often engage in pricing wars that lead to a steady decrease in the value of goods. This devaluation is called Pricing Erosion. Now you’re wondering: Is there more to the definition of Pricing Erosion? What is Pricing Erosion?

Price 52
article thumbnail

Discount Pricing: Its Strategies & Practical Examples

Hubspot

Discount pricing is borderline omnipresent. We've all seen retail outlets offering sale prices or "buy one, get one free deals" — and for good reason. When done right, the method can drum up quick interest in your business, foster customer loyalty, and pay off in spades. Discount Pricing Strategy. Image Source: Shopify.

Price 88
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

How to Overcome Price Objections in Sales: A Guide

Lead Fuze

Understanding how to overcome price objections is a crucial skill for any sales professional, marketer or small business owner. In the world of sales and marketing, pricing objection is often one of the most challenging hurdles to navigate. Let’s dive in!

Price 52
article thumbnail

How to Implement a Promotional Pricing Strategy the Right Way

Hubspot

If your business hits a wall like that, particularly if you're in retail or ecommerce, you might just need to generate some quick demand and spur consumer interest. One of the best ways to do that is through a practice known as promotional pricing. Here are some of the more prominent examples of promotional pricing.

Promote 82
article thumbnail

How Our Veterinarian Can Help Improve Your Win Rate

Understanding the Sales Force

We brought Dinger back to the Vet to confirm our fear, and today’s article discusses a topic I don’t often write about, repeat business. In Baseline Selling terms, most salespeople start their repeat business conversation at 3rd base but she did what salespeople should do and started at 1st base.

article thumbnail

How Our Veterinarian Can Help Improve Your Win Rate

Understanding the Sales Force

We brought Dinger back to the Vet to confirm our fear, and today’s article discusses a topic I don’t often write about, repeat business. In Baseline Selling terms, most salespeople start their repeat business conversation at 3rd base but she did what salespeople should do and started at 1st base.

article thumbnail

Discounting Your Price Brings You Customers You Don’t Want

The Sales Hunter

When you discount your price as a way to attract new business, the only thing you’re going to do is make yourself and your company work harder. Using a low price to attract new business is a great technique to attract customers who will never pay full price. Don’t cut your price to create new customers.

Price 94