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How to Compete Against Low Price Competition
One of the most frequent complaints I hear from business owners and sales people is that their competitors always seem to be cutting prices and that makes it difficult to sell their goods or services at a reasonable price where they can make a profit. While this problem appears to be common, in my experience the most successful businesses do not suffer from this complaint.
In fact, the most profitable businesses usually sell at higher prices than their competitors. It is tempting to drop your prices to compete against low price competition. Sometimes the pressure does not come from competitors. Often our customers pressure us to reduce our prices.
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