Sales Quiz: Handling "I Can Get It Cheaper Elsewhere"

Last Updated Apr 13, 2010 6:29 AM EDT

SCENARIO: You're at the beginning of a sales cycle. Your product is similar but not identical to what your competition offers. The prospect surfaces the following objection:
"I can get it cheaper elsewhere."
Here are three possible responses. Pick the best one.
  • RESPONSE #1: "No, you can't, because we have a low-price guarantee and will pay you twice the difference if you can find it for a lower price someplace else. So no matter what happens you always get the lowest price."
  • RESPONSE #2: "I'm sure you can. For example, (XYZ competitor) sells this product for $_. However, they do not offer a lifetime guarantee. In the long run you save by buying from me... Doesn't that better serve your needs?"
  • RESPONSE #3: "It's a business truism that no company can consistently offer its customers the finest quality AND the best service at the lowest price. Which two of these three elements are most important to you in the long term?"

CLICK for the correct answer »