MBA1589 Why Selling Low-Priced Products Can Be Harder

We assume big price tags are for big businesses. But it’s the opposite, really. Today, we discuss why new and smaller companies think they have to undercut. While it might seem like a better way to sell your product at first, the message it sends — and the customers it attracts — can make this strategy backfire badly. You have to be able to afford your customers. And low prices can’t get you there. By charging what your product is worth, you build a stable foundation to serve everyone better. It’s about the quality of customers, not the quantity. So unless your last name is Walton, ditch the clearance-bin prices. Click Play!