Are decisions based on Price?

We recently lost a potentially big deal because we were told that our price was more than 20 times the “other” vendor.

What does that mean?  Does mean that our product is the same and therefore should be priced the same?  Or does it mean, that we did a poor job building the value so the buyer could justify the higher cost.  The answer probably lies somewhere between the two.

It’s well documented that decisions are usually not based on price rather perceived value. 

Moral of the story – We did a poor job in the sales process so the client never really understood the value of our service to make a more informed decision.

Build the value and then the price issue goes away.

Brick