When faced with a price objection, what is a recommended approach?

Prepare for the Equinox Sales Training Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

Multiple Choice

When faced with a price objection, what is a recommended approach?

Explanation:
The idea being tested is that price objections are best handled by showing value, not just accepting the sticker price. By quantifying the benefits—time saved, risk reduced, productivity gains—and comparing those benefits to the cost over time, you frame the purchase as an investment with measurable returns. Offering phased or ROI-based pricing gives the customer a path that fits their budget while maintaining the value proposition, and can make a high upfront cost feel more manageable. This approach directly addresses the objection by surfacing why the price is worth paying and how the customer will come out ahead in the long run. In contrast, ignoring the objection and pushing a discount can erode perceived value; emphasizing features without tying them to cost misses why the buyer is hesitant; and simply lowering the price without explaining the value trains buyers to expect discounts rather than investing for outcomes.

The idea being tested is that price objections are best handled by showing value, not just accepting the sticker price. By quantifying the benefits—time saved, risk reduced, productivity gains—and comparing those benefits to the cost over time, you frame the purchase as an investment with measurable returns. Offering phased or ROI-based pricing gives the customer a path that fits their budget while maintaining the value proposition, and can make a high upfront cost feel more manageable.

This approach directly addresses the objection by surfacing why the price is worth paying and how the customer will come out ahead in the long run. In contrast, ignoring the objection and pushing a discount can erode perceived value; emphasizing features without tying them to cost misses why the buyer is hesitant; and simply lowering the price without explaining the value trains buyers to expect discounts rather than investing for outcomes.

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