auto sales training price vs value

Most poorly trained salespeople tend to react to prospect price resistance by lowering the price because they feel that they must do this in order to win the business. Believe me there is a lot more to handling price resistance than is evident at the first pass.Any price will always seem high to a prospect or customer if their perceived value of your vehicle is low. Price resistance is one of the best ways to get a feeling for the value your prospect has for your offer. If price resistance is low or non-existent you can feel fairly sure that they have a high perceived value of your product or service.The key to effectively handling price resistance is to understand this simple, yet profoud, concept - people generally say they want low price, but what they really want is low cost. What is the difference?Low price is what a customer pays for your vehicle now. This is what is deducted from their checkbook and deposited into yours. Low cost is what they pay for your vehicle over time. For example, if they buy an inexpensive vehicle to save money, but it is in constant need of repair because it breaks down frequently - they had a low price but a high cost. Although they may have saved money initially, their cost over time will be much higher than if they had invested more in a better vehicle.In most cases in life we get what we pay for. Buy cheap and you get less value or higher cost. Buy expensive and you get higher value or lower cost over time. Granted this is not true 100% of the time but it is as a general rule.Price is what you pay for something. Cost is what it costs you over time.What are you selling - high value or low cost? Many salespeople would rather sell a higher priced vehicle than a low priced one. It is much easier to justify high price if the value is there, than poor quality and constant product/service problems when the value is missing.Remember, the key to success in selling is building strong relationships. Poor quality, even though customers save money, is not in their best long-term interests. How do you want to be remembered by your customers? Low quality - or a good value at a fair price?Consider for a moment the simple thought - if two people want to do business together they will not let the details get in the way. By the way, the converse of this is also true.

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