Many business owners fall to the trap of offering the lowest price to influence their customer’s purchasing decision. What they do not realize is that now more than ever, customers are buying from companies not just because it offers a product with a fair price, but also because that company offers the best solutions at a fair price.
Competing on price can include several strategies, such as discounting. But while this strategy can give your sales a modest boost, reducing prices can have more devastating impact on your profit margins in the long-run.
Read on as we detail in this infographic why selling on the value of your solution is far more advantageous for your business in the long run compared to just competing on price alone.