Why you don’t have to compete on price


Chantal

I’ve always seen Waitrose as the quality end of supermarkets. They always charged more for the same brands as the other supermarkets and in return you get staff who know what they’re doing and how to look after customers. Waitrose never worried about charging you more. They always gave the air of quality and reliability.

Have you noticed their recent advertising? They’ve started promoting a value range of essentials that they’re selling at low prices. Why?! Waitrose has never competed on price. Why on earth start now? All it really does is lower the perceived value of what you do.

Think about this for your business. If you don’t charge top prices, you will send the world the message that you’re not the best in your field. Charge the top rate and people will automatically see you as an expert. We all know that experts are hugely in demand. The law of supply and demand pushes up your price. And so it goes on.

So, don’t compete on price!

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