Jim JohnsonFounder, Contractorcoachpro · ContractorSage: Your Virtual Coach

The Price Competition Myth #inflation #pricingstrategy #homeservicebusiness #salesstrategy #coach

Name: The Price Competition Myth #inflation #pricingstrategy #homeservicebusiness #salesstrategy #coach
Uploaded: 2023-11-13T20:00:18+00:00
Duration: 51 s
Channel: Jim Johnson
Description: A short excerpt from a YouTube video by Jim Johnson (recorded Nov 13, 2023) in which he argues that businesses often avoid raising prices because they…

13 Nov 2023 · 1 min

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A short excerpt from a YouTube video by Jim Johnson (recorded Nov 13, 2023) in which he argues that businesses often avoid raising prices because they fixate on competitors. He uses everyday grocery-price examples to illustrate inflation and suggests companies should focus less on "what the market can bear" and more on what their salespeople can actually sell at, claiming better margins are achievable for higher-quality providers.

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And I think it's interesting. And you tell me if you're seeing this, do people have an aversion to raising their prices because they consider the competition always? Why do you think that, like, things have gotten more expensive, Right. I think most anybody that isn't living in a cave somewhere realizes things. My gallon of milk right now doesn't cost a $25 anymore. It's four bucks a gallon. A thing of eggs is not 99 cents anymore. It's some crazy number, like three or four bucks. I think people know that things are more expensive. Right. So why don't you let all those other guys have that tiny little margin? Let's go get ourselves the bigger margin, because we're the best. They need to stop looking at what can the market bear and start looking at what can my salespeople sell it at.