Your price is way too high

If my client tell me Michael your price is way too high, you know what I'm going to say? what's is your reaction? I'm not going to tell my client "no no no, my price is very low , my price is competitive." because in this way you are simply arguing, you're arguing with your client, you disagree with your client in front of his face, and this is not polite. I'm not going to say that.

The logic will be step No.1: I'm going to test my client's attitude because something your client is bluffing right? so I'm going to ask him : oh I'm sorry to hear that but please let me know what is your target price , how can I improve my price, and how much gap in there, so I will go back to my manufacturer and try to get more discount. maybe half half 50% of the clients they will tell you okay my target is like that or somebody is offering this much lower and you have to improve this much. so that's simply giving you a chance so in this case they were really bluffing with you.

But some of the clients they will tell you, "sorry Michael your price is way too high is totally out of the market level. I'm sorry I can't help you this time. I'm going to place the order or I have already placed the order." so if this is the attitude that means your clients is not bluffing . your really offer the wrong price. Then what you gonna do ?

so you tell your client "I'm sorry to hear that, my price is way too high, you have already placed the order to somebody else. I'm so sorry. But please let me know what price you have placed the order to my competitor. so that I can educate my manufacturer and next time that probably I can bring much better price for you .

Step No.2:

if your client refused, I want to know when is my next rounds right? it's perfectly logical .

you:

"sir, it's ok , let's wait for next rounds but please let me know approximately when are you going to place the next order ?".

I'm telling you , if you do this in front of your client's face, I mean during a face to face meeting or call your client, there are 80% even 90% of the chance your client will give you a schedule, and when they are going to place next order. so you can make a plan accordingly . I'm going to follow up after 2 weeks or after 2 months.

So in this way , you'll be in professional, be in patient, be in nice with your client, you not arguing with your client, but you're negotiation with your client. gradually, gradually , you will find the chance that your prices offered will very close to client's target. After hard negotiation ,you get the first deal with client.

People with money don't distribute it to suppliers who quote exorbitantly.
有钱的人不会把它分发给报价过高的供应商。