Understanding
the 4 Quadrants of Solution vs cost Perception
Quadrant-1
If the customer perceives the price
to be low and the value of solution to be low, the customer will not buy the
product. In such a situation, we need to take some time to redo the value
mapping to increase the value of the solution. Once customer perceived
value of the solution increases, the chances of closing the order is more.Quadrant-2
If the customer perceives the price to be high and the value of solution to be low, the customer will think twice before buying. In such a situation, we need to probe the customer to understand how he perceives the solutions and we need to match the solutions that will address his both Tangible and Intangible needs. Once customer perceived value of the solution increases, the chances of closing the order is more.
Quadrant-3
If the customer perceives the value of solution
to be high and the value of the price to be high the customer would like to
negotiate, in such a situation we need to prepare ourselves for negotiation. We
need to identify what will be the Customer's alternate source, his walk away
position and we also should do review our value mapping. Once customer
perceived value of the solution is high and price is low, the chances of
closing the order is more.
Quadrant-4
If the customer perceives the value of solution
to be high and the value of the price is low the customer would like to
buy. In such a situation, we need to close the sale and take feedback from the
customer seeking what is the value he has seen in the product or service we had
offered. This feedback will help us to know our strengths and will help us
to pitch in the same value to similar kind of customersM.L.Narendra Kumar
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