Question

Michael is in sales meeting with a potential client. The client is interested in the product but is concerned that the product costs 15% more than the competitor's. How should Michael handle this sales situation?

Answer 1

Complete Question :

Michael is in sales meeting with a potential client. The client is interested in the

product but is concerned that the product costs 15% more than the competitor's.

How should Michael handle this sales situation?

A.) Offer the client a 20% discount.

B.) Ask the client how much he or she would be willing to pay for the product.

C.) Show the client the better warranty and quality that comes with the slightly

higher cost.

D.) Say "Thanks for your time" and leave

Answer: C.) Show the client the better warranty and quality that comes with the slightly

higher cost.

Explanation: The fact that Michael's product costs 15% more than the price of it's competitor doesn't spell the end of the deal. What Michael needs to explain and make clear to the client in the sales meeting are the vague distinctions which exists between what his own product offering and that of it's competitors. Michael needs to let the potential buyers understand and get clearly the additional offers, quality or performance associated with his own product which ultimately accounts for the higher cost of his own product.