There are eight basic ways to defend against a lower price. Master them all, and you’ll spend a lot less time negotiating and a lot more time closing deals. These eight, great differentiators are the keys to defending a high price against lower priced competitors:
#1: Feature. Something in your offering is different than the competition’s. This can be something major (like a key technical feature) or something trivial (like a color).
#2: Brand. The customer is accustomed to purchasing your offering and automatically thinks of it as superior, or buys it more or less automatically when confronted with a choice.
#3: Convenience. Your product is easier or cheaper to purchase, or can be delivered faster, or can be replaced faster, or is easier to get serviced.
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