Avoiding The Walmart Business Game - One Click Consulting

When the race to the lowest price no longer works for driving traffic in your door, what does that leave you with?

This is so important to consider for your business before you start sales, discounts, or offers to beat the competition. Why? Because once you win the price war, you are closing your doors. Just ask Blockbuster. There was a reason you built your company ? what was it?

The Value Of Your Products/Services

You can?t guarantee you?ll always have the lowest price (even Walmart isn?t always the cheapest for some things). When you?ve attracted the types of customers that only buy from the cheapest seller, you can bet they?ll be shopping with your competitor the moment their prices are cheaper. To acquire loyal customers you need to be about more than price so there?s a reason to continue doing business with you even if a guy down the street is a little cheaper.

Can you do the work faster? Is the quality of your work better? Do you offer a guarantee the competition doesn?t, or is there some component of your service that exceeds the rest? Think of it like this: would you enjoy a dinner out if the restaurant had bottom-dollar prices but you received cold, slow service every time you went? Maybe you wouldn?t care if you just wanted a cheap steak, but if the service and experience are important to you, it?d surely be worth a few more dollars up the street at a restaurant with excellent service.

The Cost Of Being The Cheapest

Think about Walmart. They may have low prices on a wide variety of things, but most people will agree the store is neither is clean as other department stores nor is the service in the same league. The staff is usually scheduled as slim as possible, which explains the conundrum of having 25 cashier lanes but only 4 cashiers on duty even when there are lines halfway back through the store. Saving money is important to Walmart, more so than ensuring you have a pleasurable, efficient shopping experience. These are the sacrifices one makes to shop at a discount store.

Source: http://oneclickconsulting.net/2012/avoiding-the-walmart-business-game/

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