If a Prospective Client Has an Objection Based on Pricing

question 26

Multiple Choice

If a prospective client has an objection based on pricing, the best way to overcome this objection is to:

• A) Offer the prospect discounts to gain their business
• B) Show the prospect the value and benefits of what you're selling
• C) Promise the prospect that you will beat the competitors' price
• D) Convince the prospect that your product is superior to the competitors, thus explaining the higher price

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Definitions:

Opportunity Costs

Missing out on potential gains from different choices due to opting for a particular alternative.

Cost of Capital

The return rate that a company must earn on its investment projects to maintain its market value and attract funds.

Opportunity Cost

Opportunity cost represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

High End Stores

Retailers that sell luxury or premium products and services, often characterized by high prices and quality.