Question

Consider that you have designed an ergonomic chair that reduces back strain. You want the top price for your high-quality product. Discuss what can be done to ensure that customers will buy at the higher-end price.

Answer 1

The following things can be done to ensure that customers buy at a higher end price

1. Use high level sales pitch : The very first thing you can do to sell a product at high price is to hire avery experienced sales persons who have very good convincing skills because the salesman is one of the most important person while selling a product, so make sure to invest on best salesman to get a good output.

2. Have very good quality : Today the customer prefer quality to price as the quality helps a person get a better product with a better durability period. So make sure you manufacture a product which has more warranty period as compared to same product of some other brand.

3. Good advertisements: You need to have a great brand ambassador who can promote the product so that people become familiar to a product and buy them without the need of convincing. And once your product is sold and you have good number of customers it is very easy to retain them if you provide them with the best quality in the market.

4. Make realistic promises: Tell your customers that in case they find the product damaged or any problem , it will be assisted and the product will be replaced or repaired as per the company's norms, but be sure to make only those promises which can be fulfilled because once you fake a proise you will lose the customer.

5.Give good customer support: Hire persons with good experience of handling and supporting customers so that the customers get timely support and they do not get frustated with regards to their product.