Buy once, Cry Once!

Following post is extracted from an old journal of mine, back in the day when I was working for a firm that offered engineering solutions. This was the time when I was a marketer before moved on to become a Software ERP consultant that I am today.

Me visiting the Hambantota International Sea Port for an inspection

This reminds me of good old days with greased hands in a white overall boarding ships with my team of engineers for engine inspections followed by striking deals and fabricating accessories. I still remember the rush to complete the work before the deadlines and the hustle that I followed.

Last week I offered a price of an engine accessory for a commercial Ship. Client came back to me in an angry email saying that I have quoted him an “out of galaxy price”. (those were the exact words!)

He insisted on a concession indicating that that his budget was only 50% from my original offer!

This got me thinking, should he be in our prospects column in the first place?Should I turn him down straightaway?

Let’s find an answer to this question at the end of my post along with my actual response.

On a separate note, what if we go to Rolls-Royce and say “well, I have seen better prices at Toyota!”

Obviously this will prompt a response from Rolls-Royce somewhere along the lines “Okay, then why are you here, go to Toyota!”

But as a Marketing practitioner I believe saying “No” without actually saying it is an art that we all should master.

Coming back to my actual response, I asked the client “why do you want to replace this certain part in your ship?.”

His answer was, “I want to make sure that I don’t get any engine troubles that cause operational delays for next 5 years”.

So I asked him whether running free of any malfunctions is really worth an increment of 50% from price?

Here I spoke of #value but not the #Price, since the key is to make customer rethink the decision to not buy our product and lead him to decide better for himself opposed to simply shooting him down.

P.S. It actually worked, since the client wanted a solution to a problem not necessarily a product. We gave him the product at our original price minus 10% discount seeing as to how it would make him stick with us and assured on the product quality by 3 year guarantee, worked like a charm!

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