

Chapter 06: the 3rd most common mistake made by companies in times of crisis
lowering the quality of their products or services in order to continue lowering prices.

As we saw in the previous chapter, your customers do NOT buy from you because you have lowered your prices: they buy from you because of the service you offer them, the quality of your products and the need they meet.
If you lower your prices too much, it is clear that very soon you will either lower the quality of my products or I will start losing money. So it is logical to think that you will opt for the first option.
But if you lower the quality of your products… they will no longer be the products that your customers like, don’t you think?
If the only added value of your products is the price, your marketing strategy has a serious problem: because tomorrow someone will always be able to come along and sell cheaper than you.
So make sure your company offers more key value-adds for your customers… and that they know it, of course.
Quality of service, a professional and close treatment, good after-sales service, fast shipping… there are many options available!
In the next chapter we will look at 3 good practices for companies in times of crisis. See you soon!