Quotes

If a customer questions your high asking price and asks for a counter-offer, avoid making an immediate decision—even if you have the authority to do so. Instead, politely tell them that you need to consult with your superior before providing a response. Even if you don’t actually need to escalate it, this gives you time to think and keeps the conversation open. Customers often compare prices from multiple suppliers, and it’s common for them to use other quotes as leverage. If you agree on the spot, they might still try to negotiate again later, even if you lower the price. By delaying your response, you create space for future discussions and maintain a sense of value. When customers can’t get the price they want right away, they tend to push harder. This is your opportunity to take control and adjust your offer strategically. As long as your product quality is solid, aim to present a price that’s close to what other suppliers are offering. But how do you know what others have quoted? Asking the customer directly isn’t wise—it could put you at a disadvantage. According to purchasing psychology, buyers typically expect a 5% discount when negotiating. They often subtract 5% from a competitor’s price to use as a bargaining point. With this in mind, if a customer suggests a number, you can estimate what other suppliers might have offered. However, be careful not to reduce your price by more than 2–3% at a time. Avoid making large adjustments, as this may make the customer think you’re still holding back. The goal is to appear firm but flexible, giving them the impression that you’re reasonable without giving too much away. Knowing your pricing strategy and staying confident in your value will help you navigate negotiations more effectively. Always keep your options open and stay one step ahead in the conversation.