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:

Good X

A placeholder term used in economics to represent a specific product or commodity in theoretical discussions.

Midpoint Method

A technique used in economics to calculate the elasticity of demand or supply by using the midpoint between two points on a curve instead of relying on the initial or final point alone.

Price Elasticity

An indicator of the degree to which the demand for a product reacts to shifts in its price, showing how susceptible demand is to price fluctuations.

Equation

A mathematical statement that asserts the equality of two expressions, usually written with an equals sign ("=").