Smarter discount policies
- Whenever possible, avoid putting discount policies in print. If industry practice or business regulations require the publishing of discounts, keep your published discounts small so you can negotiate better prices for important customers.
- Change your discounts often. If discounts stay the same, they are often perceived as actual prices. This can make future price increases very difficult.
Be a price follower…
- When your company is small and a few large competitors dominate your industry.
- When there’s little or no difference between your product or service and that of your competition.
- When you are ready and willing to continue to be a price follower.