How to win a price war against competitors? Get out of here! A price war is simply a race to the bottom. It will destroy your sales strategy and brand reputation. When your company accepts offers for drastically low prices, you reduce the value of your products and services. Patrick Reinmoeller, professor of strategic management at the Cranfield School of Management, says that “companies that engage in price wars engage in self-destructive behavior, leading to downward price spirals that alter industry structures.” the game. So leave this nonsense to your competitors. Instead of gaining a price advantage, it stifles the competition by offering large potential customers. Make price a triviality It's the eleventh hour of negotiations. Everything seems to be moving towards closing the deal. Then, the prospect mentions a ridiculously low price offered by your direct competitor. You hear the dreaded question: Can you do better? Let the potential customer imagine the value of your product without involving the price. Steli Efti, CEO and co-founder of Close.io, suggests asking the potential customer the following questions: Price aside, do you like our product better? Does our product have more value for you? In an ideal situation, the answer will be yes, and you won't have to worry too much. The person understands the value of your product and you can proceed with the sale. However, if the answer is no, tell the prospect to follow the competitor. Um, yes. Let them go! Ramit Sethi, personal financial advisor and entrepreneur, believes that “the best people want the best stuff. And when you're ready for the best, the price is a triviality." For example, Sethi charges over $2,000 for his online business training courses because it's best to focus on value and not cost. You don't want people to buy your product if it's not the best fit. And you don't want them to buy your product if it's just based on the lowest price