Price negotiation is a part of business deal making process. It
is business as usual and entrepreneurs should not mind involving in
negotiation with customers.
This is the response from one of the hoteliers in response to
price negotiation request:
Rs. XXXXX/- final.I will give u the old rates.sorry, if u want the
experience,you have
to be able to pay for
it.specially if u want to celebrate an anniversary.
With the above response, deal was closed and customer was
lost.
Learning is when one is engaged in negotiation it
is not always about one's affordability. Rather than talking about potential
customers' ability, entrepreneurs MUST be able to explain
WHY negotiation is not possible. This is true even
if you are in monopoly business.
Customer is a millionaire but he won’t pay whatever he is asked to
pay. He will negotiate and will pay full
when satisfied that wherever is asked is fair and
reasonable considering what he is getting in return.
Negotiation is not about customers’ ability but it
is about convincing customers that whatever is quoted is
the best possible quote.
Following reply could have saved
the customer and deal:
We appreciate and acknowledge that this is your special
day and you would like to make it memorable by spending a few days with us. Let
me assure you we will make special attempt to make it memorable.
As far as pricing is concerned we have been able to
maintain the property in such a beautiful way to offer best possible experience
to our customers. You have acknowledged the same by referring to
reviews about our property on tripadvisor.
Therefore I request you please do not negotiate on price and
we on our part make an extra effort to make your special day , very special
with us. We look forward to welcome you on your special day.
Even if one is not able to
afford Rs. XXXXX/- , the above communication could have saved the customer
for future engagement and even for referral business.
Point is ; communication plays very important role in business
deals & customer experience creation. It can break the deal or
make the deal and can bring more referral customers.
Its always how you make customer feel while dealing with you, not
only while using your product or services but during the entire process.
