Commentary: Rethink the Automatic Price-Dropping Response

The last few times a customer told you they found a lower price on a product at one of your competitors, how often did you lower your price in response? According to a survey from John Gunderson, MDM VP of E-Business and Analytics, the majority of distributors (38%) report they will lower their price two out of three times. Twenty-nine percent say they’ll do it once, 24% never will, and 9% will lower it every time. Gunderson shared these statistics during MDM’s July Sales Transformation Roundtable webcast. If there’s ever a time to question the effectiveness of our response to routine…