Lets say you are a jewler. You know how much your competitors are selling the same product. You build rapport and trust with your customer and convince him/her that your price (a much higher price) is a good price and they purchase the jewelry. You make more money than what your competitor would have.
Is this right?
Lets say you are a jewler. You know how much your competitors are selling the same product. You build rapport and trust with your customer and convince him/her that your price (a much higher price) is a good price and they purchase the jewelry. You make more money than what your competitor would have.
Is this right?
It could be. If it costs me more to stock and sell the product than my competitor, I should charge more to cover those costs.Lets say you are a jewler. You know how much your competitors are selling the same product. You build rapport and trust with your customer and convince him/her that your price (a much higher price) is a good price and they purchase the jewelry. You make more money than what your competitor would have.
Is this right?
I think it boils down to whether it is a fair price and whether you are being deceptive. If you are jacking the price up in order to make more money, then it's probably not a fair price; when you tell your customer that your price is a good price, you are lying. That is unethical. However, if your competitors are selling it for cheaper because they are part of a huge chain and rely on volume for their profits whereas you are a boutique shop and really need to get the most out of every sale, then I think there's nothing unethical about this.
[EDIT]I like what MaggieD had to say. If you aren't competing based on price, then that shouldn't be brought up as a selling point. That's the safest way to remain ethical.
Lets say you are a jewler. You know how much your competitors are selling the same product. You build rapport and trust with your customer and convince him/her that your price (a much higher price) is a good price and they purchase the jewelry. You make more money than what your competitor would have.
Is this right?
would you have the same thoughts if you were "negotiating" a higher price (as opposed to "telling")? like making it look like a good price?
what if the jewelry was at retail price and you are just offering less of a discount than your competitors?
I recall the days of phone calls from telemarketers and as I grew older I believed that that was perhaps the lowest group of people on earth. I had a guy call me telling me to buy gold and he got so pissed he ran me down my family down to the point that it became comical. As he was so irate I then told him I would be interested only to say "I changed my mind" after he was counting his commission and I hung up. He called back swearing up a storm and I hung up again and that was that. Any time I deal with sales people that I believe are on commission I battle them on price and it rarely fails.
My husband always drops his voice to his low, sexy voice, and he asks the telemarketer, no matter what gender, "Hey, baby. What are you wearing?" He gets um -- more and more risque, until they get embarrassed and hang up.
Give them to a three year old, and tell them it's SANTA.
In every bargain or contract you make there is one person that has more knowledge about the deal than the other side or has more experience in closing deals, but that’s, for the most part, doesn’t give us the right to breach the contract or cancel the deal .Lets say you are a jewler. You know how much your competitors are selling the same product. You build rapport and trust with your customer and convince him/her that your price (a much higher price) is a good price and they purchase the jewelry. You make more money than what your competitor would have.
Is this right?
In business the only "right" or "wrong" is what is legal or illegal. It's a jungle out there and (almost) anything goes.Lets say you are a jewler. You know how much your competitors are selling the same product. You build rapport and trust with your customer and convince him/her that your price (a much higher price) is a good price and they purchase the jewelry. You make more money than what your competitor would have.
Is this right?
In business the only "right" or "wrong" is what is legal or illegal. It's a jungle out there and (almost) anything goes.
Lets say you are a jewler. You know how much your competitors are selling the same product. You build rapport and trust with your customer and convince him/her that your price (a much higher price) is a good price and they purchase the jewelry. You make more money than what your competitor would have.
Is this right?
would you have the same thoughts if you were "negotiating" a higher price (as opposed to "telling")? like making it look like a good price?
what if the jewelry was at retail price and you are just offering less of a discount than your competitors?
In business the only "right" or "wrong" is what is legal or illegal. It's a jungle out there and (almost) anything goes.
It may not sit well with your business model but that's pretty much beside the point. The discussion is about "right" and "wrong", which can also be seen as "fair" and "unfair". (if you disagree with that substitution you can change fair and unfair to right and wrong below - it shouldn't change the discussion much, if any.)I own a business and I disagree completely.
But then again, I would have to live with myself if I were a sleazebag.
The discussion isn't about any person's (or company's) business model.I am in business (self employed handyman) yet do not feel that way at all. I prefer to do quality work at very competitve prices rather than to try to maximize my profit on each job. That way my business reamains successful by word of mouth alone and I have very few bids refused.
It may not sit well with your business model but that's pretty much beside the point. The discussion is about "right" and "wrong", which can also be seen as "fair" and "unfair". (if you disagree with that substitution you can change fair and unfair to right and wrong below - it shouldn't change the discussion much, if any.)
Stop and think about exactly how we would determine what a "fair" profit margin is. Is it "fair" if you're making more than a median income? Is it "fair" if you're in the top 1% of all income? Where exactly is this line between fair and unfair and who or what makes that decision?
The discussion isn't about any person's (or company's) business model.
The above applies to you as well. What is right and wrong and who or what makes that determination?
Normally I would only ask for the price I expect it to be worth. If the customer is very rich on the other hand, I may up the price but then I would also give them first-class service. That makes them happy and I get more money, so I'm happy too.would you have the same thoughts if you were "negotiating" a higher price (as opposed to "telling")? like making it look like a good price?
what if the jewelry was at retail price and you are just offering less of a discount than your competitors?
Sorry for the late reply. In your last sentence you've introduced a new concept into the discussion, the subject of "good" vs "bad" price, which I take to be a consumer issue - not a question of right and wrong (morality). Obviously, a McD's in a ritzy part of town with lots of businesses (where real estate is expensive) will have to charge more for a Big Mac than the McD's down the street from me where there are "reasonable" land values. I don't think anyone would consider that "wrong".I make that determination. I fully understand that prices (for the "same" thing) vary. Just because something is legal (or not illegal) does not make it right (or not wrong). A business may have to charge more (for a given product/service) if they have higher overhead but there is still no cause to say that makes their higher price into a "good" price.
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