Question

To address a buyer's price objection about a product or service, salespeople should

A) Offer a discount or negotiate on the price.
B) Emphasize the product's unique features and benefits.
C) Understand the buyer's needs and show the value of the product.
D) Dismiss the objection and move on to other features of the product.

Answer 1

To reassure a buyer faced with imperfect information, a seller can offer a money-back guarantee, provide customer reviews, and offer product demonstrations or trials.

Step-by-step explanation:

In order to reassure a buyer who is faced with imperfect information, a seller of goods can take several approaches:

1. Offering a money-back guarantee: This provides the buyer with the assurance that if they are not satisfied with the product, they can return it for a refund. This helps to alleviate any concerns about the quality or suitability of the product.
2. Providing unbiased customer reviews and testimonials: By sharing positive feedback from previous customers, the seller can demonstrate the positive experiences others have had with the product. This helps to build trust and confidence in the buyer.
3. Offering product demonstrations or trials: Allowing the buyer to experience the product firsthand can help them make a more informed purchasing decision. This can include offering free samples, trial periods, or in-person demonstrations.

By employing these strategies, a seller can address a buyer's concerns and provide reassurance. This helps to build trust, overcome objections, and increase the likelihood of a successful sale.