Selling Jewelry Based on Margins, Not Prices

It’s difficult, if not impossible, to cut prices on products or services and make it up in volume. It is possible, however, to raise your prices, lose some volume, and make far more money. That’s the key tenet behind How to Sell at Margins Higher Than Your Competitors, a newly revised edition of a classic business title from business consultants Dr. Lawrence Steinmetz and William T. Brooks. According to the authors, there are five main factors involved in selling a product or service: price, quality, service, sales capability, and ability to deliver to the customer. They contend that price is the least significant of these factors to customers. “If price were the only reason why people buy something, we wouldn’t need salespeople,” the authors state. Other key ideas relevant to independent jewelers include: Just because your competition is selling at a price lo

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