How do you overcome competitive pricing?

Asked 3 years ago

Hi everyone. I checked out the competitors' pricing today, and their prices are so low that I don't see how it would be possible to put my product prices lower than theirs. What do I do now? Do I just set my price somewhere in the middle and hope for the best? Thanks in advance!

Competitive pricing Competitors Product prices Pricing strategy

Ronald Lewis

Tuesday, February 22, 2022

You don't need to put your prices lower than your competitors in all cases. You can stand by your price or set it somewhere in the middle if it suits you. Remember, setting too low prices makes customers suspicious about the quality of your products.
Try selling your products' value using persuasive language and skills. Or, if you think setting low prices is the only way out, decrease your rates to attract customers and sell quality products. Once your buyers get satisfied with the quality your product offers, you can increase the rates.