Introduction
Renowned investor Warren Buffett said, “The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10%, then you’ve got a terrible business.”
The existence of competition in any given industry changes the playing field. Businesses in an attempt to gain higher market share adopt various competitive strategies to increase their competitive advantage. One obvious competitive strategy that businesses adopt in the face of intense competition in any industry is the strategy based on price, leading to price wars.
Companies need differentiation strategies to strengthen their brand positions while continually seeking ways to deliver a better value proposition to customers without reducing Prices and Getting Into Price Wars.
Learning Outcomes
Learning Outcomes - Understand Why Pricing Strategies Will Fail In A Price Sensitive Environment
- Choose Compelling and Unique Points of Differentiation To Create Value
- Develop Competitive Differentiators To Influence Customers and Manage Competition
- Create Value Differentiators That will Impact Sales Performance And Profitability
- Be The Differentiator In The Sales Process
Course Outline
Course Outline - Know Clients Needs and Wants And Value To Create Differentiators
- Factors And Criteria To Consider For Differentiation
- Effective Ways To Differentiating Your Sales Process and Business From The Competition
- Avoid Competing On Price As A Differentiation Strategy
- Questions That Determine If The Company’s Differentiation Gives It A Competitive Edge
- Communicate Compelling and Unique Points of Differentiation to Create Value
- Creating Value Differentiators To Influence Customers and Manage Competition
- Positioning Differentiators In The Sales Process To Gain Competitive Advantage
Methodology
This experiential workshop is facilitated through a variety of adult learning techniques, role-plays, lectures, group discussions, situational analysis, exercises and participants’ presentations.
The Trainer
Trainer's Profile(This course will be conducted by one of the trainers, Stanis Benjamin or Clare Lim)
Stanis Benjamin, Master Facilitator and Distinguished Toastmaster, is a motivational humorist and an accomplished speaker, consultant and trainer in the fields of business presentation skills, sales, communication, customer service, leadership and strategies for personal success. As a coach, consultant and keynote speaker, he has addressed many companies and institutions and helped senior executives, high-achieving professionals and beginners to reach higher levels of performance.
Stanis is a thought leader on how to create and sustain high performance. He combines theory with management practices to develop action-oriented techniques for building winning teams. He has been invited as an expert to speak on the topics "Behaviour Focused Communication and Humour in Presentations" and presented on Positive Business Minutes for News Radio 93.8.
He has gained excellent reputation for his work with human resource and training departments of numerous organisations to design and develop Sales, Personal Effectiveness, Leadership and Communication training programmes. Stanis brings with him over 15 years of training and coaching experience and is accredited as an Executive Leadership facilitator.
