Company: Early stage start-up<\/strong><\/p>\n Industry: Application software<\/strong><\/p>\n Client Name: Available upon request<\/strong><\/p>\n This company was charging more for their products when a new competitor arrived on the scene. In an effort to gain market share, the competition offered a lower priced alternative. Switching vendors of this type after the initial purchase is a rare occurrence. Loss of sales to a low priced competitor was significant and had long term implications. The company wanted to avoid a price war. Despite its efforts to highlight product differences, buyers viewed both offerings as \u2018equal\u2019. Efforts to diminish the decision based solely on price were ineffective.<\/p>\n Based on the ethos of Sy Syms (circa 1974) that \u201cAn educated consumer is our best customer,\u201d the company began conducting courses on what the software did and how to comply with a body of rules, regulations and requirements that the product had built into it. To establish credibility, the company offered continuing education credits to course attendees. Education was conducted in a non-threatening, non-selling environment.<\/p>\n Case Study A Lower Priced Competitor Company: Early stage start-up Industry: Application software Client Name: Available upon request The Situation: This company was charging more for their products when a new competitor arrived on the scene. In an effort to …<\/p>\nThe Situation:<\/h3>\n
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