Question

Topic: Other

Competition Buying Customers Out

Posted by Anonymous on 3/15/2008 at 5:04 AM ET 250 Points
How do you deal with the competion blocking you out of sales by offering a huge amount of cash to customers when your product is better and you have a better relationship?
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RESPONSES

  • Posted by michael on 3/15/2008 at 11:07 AM Member
    How much is huge cash?

    If you have the better relationship you can explain that the competion cannot possible give cash and still support the product in the future....unless of course the industry profit margins are so high that they CAN.

    In that case, Cash, a car and a warrantee on the car. You have to think of the lifetime value of a customer.

    Again...no industry specifics so It's hard to say.

    Michael
  • Posted on 3/15/2008 at 11:20 AM Accepted
    I would look to see if you have something that you can provide that is better than cash. For instance, an associate of mine was involved in a project where they provided the customer a free way to attract more business. This was a b 2 b situation. And the end result was the customers generated more money then a simple cash grant.

    For consumers try to determine what might be more valuable than cash for them and less expensive for you.
  • Posted on 3/15/2008 at 9:01 PM Author
    Thank you for your answers will implement what i ahve learnt
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