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The Art of Discounting

By: Special Guest Author Rafi Mohammed, Ph.D
October 2010 Pricing

Activate Dormant Customers Through Strategic Discounting In today’s erratic economy, the key to growing your business involves activating dormant customers by using strategic discounts. By “dormant,” I mean customers who are interested in your product or service, but have refrained from purchasing due to price. The “art of discounting” involves offering lower prices to attract […]

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” Strategy is about defining what you won’t do more than what you will do” Michael Porter

  1. Prospect: Who is in the market, who is out? Of those in, who is buying?
  2. Pre approach: Do your research prior to the first moment of truth
  3. Approach: How will you add value to the prospect? Communicate your value.
  4. Close the deal
  5. If and only if necessary, offer a discount when it is in your best interest.
  6. Some steps in business are well codified enabling you to engineer success. Other steps require the art of strategy. Use the artists. That’s what we are here for.