How much do the “Price” affects to the sales?

Hello.

When you start selling your own products, how do you decide the retail price?

Of course, it need calculation of profit from cost, thinking payment of fixed cost and other expenditures to run business. For your distributors, business partners, or specified customer’s, you may suppose to discount from retail price. Then you may set too much expensive retail price, and lose by price competition in the market. For the price decision, you have many things to think.

However, we do not think the price is directly important for “sales”.

Last year, I have contacted with Italy plastic model shop. They were interested to our Ultrasonic cutter, but they said the price is too much expensive. Because I strongly wanted to sell products and contract with them, I offered them the wholesales price little bit cheaper than our other distributers. I talked to my boss that I offered low price to them, and I got angry at my boss. What boss said is, “Price will not be a reason why product could not sold”, which means, customers will buy product if they convinced to product’s quality or performance. Our boss was thinking that there are reason in the any of product’s price.

What’s important for a sales, it is a sales technique of making customers interest to your product.

After that day, I stop selling with low cost, but prepare many information of product to attract customers, and not try to sell the product, tried to make customers, fan of the product.
If your customer says it’s expensive, let them understand why is it expensive.
Actually, most of customers may comparing with other same type product’s price and function. Even if customer choose other companies product, you should not follow too much, otherwise you will decline your companies reputation.

When you set a price, you have better to set expensive rather than cheap price.
Be proud of your product yourself, and do not sell cheaply.

If you have any questions or comment, please send us your message.

worldinfo@us-dolphin.co.jp

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