I need help with some 1500 R&D

[42769vette]

So here is my issue, up until this point at the Indy 1500 I have just listed my prices on the scopes at the minimum im allowed to sell for. I feel this saves me and the customer alot of time and energy by skipping all of the haggling. It also allows me to guarrantee you will not find it cheaper online. I also know for a fact that some folks will not buy a product at a gun show unless the dealer is willing to budge on his price and let the customer feel like they won.

So here are my options, id like to know what you would rather see a vendor at the show do.


1. Start off at the minimum penny im willing to take, and either you buy it or you dont.

2. Mark everything up 10% and come down to the minimum price i would take.

I know option 2 would probably make me a little more money, but id rather save the time and not have to worry about a customer finding it cheaper after they get home and feel like they got stuck.

Your thoughts

 

[AllenM]

I say do what works for your personality. Me, I don't like to haggle but a lot of people do. If you like to haggle mark them up and enjoy the negotiating.
Me I walk by tables to see who has best prices. If a seller is 10% higher then someone with the same product I wont be stopping to see if they will drop their price. But that's me. I like to buy high and sell low anyway

 

[threefiftyfour]

you could always put a "negotiable" price and a lowest price

 

[Que]

I don't haggle. I will take your price and search for something better. If I don't find anythig cheaper, I will be back. So, I would prefer you to give me your bottom line in the first place, because if you don't and I find something cheaper, you will have lost a sale.

 

[themadmedic]

I am more likely to check prices on my iPhone (assuming I didn't already know-and if I am looking for something specific I would have already done my homework) and pass by the higher listed price rather than trying to talk a vendor down...

 

[sgreen3]

Honestly as far as a buisness stand point in a retail setting you would probably fair a little better being able to be talked down. Makes the customer feel as if they are getting a deal. But I get what your saying Im not into hagaling, I want to know right off what the lowest is and by it. But alot of people like to do it. Then on the other hand, like was mentioned if a person seen it an it was higher than every one or the same price, they may not stop at all. Personally I would keep doing what your doing, an keep you prices the lowest youll go and leave it at that.

 

[42769vette]

I am more likely to check prices on my iPhone (assuming I didn't already know-and if I am looking for something specific I would have already done my homework) and pass by the higher listed price rather than trying to talk a vendor down...

but if you checked your i phone and could not find it cheaper would you still consider the listed price a starting point for negotiations?

 

[lovemachine]

I think most people will think your price is your bottom dollar, and they wouldn't attempt to haggle, they'd just find someone cheaper.

I haggle when I buy a car. For everything else, I just search for the best price I can get.

IMO, it would be smarter to just price everything as your bottom dollar.

 

[themadmedic]

For me, if you had the prices I found online beat-I'd consider that a deal and take it instead of trying to talk you down more.

If your price matched the lowest I found online, I would consider the savings on shipping and the "instant gratification" factor to be a deal and take it.

If your price was higher than I found on line, I would figure I have some leverage to negotiate from and the worst outcome would be waiting on shipping if I didn't get the price to a point I was happy with.

If it was much higher-I would place you in a class of vendors like Gander Mountain and just move on.

 

[42769vette]

well im glad i posted this, i was about to do a thread saying everything on my table will be marked up 10% and members just need to ask for 10% off

 

[themadmedic]

I'm no marketing guru, but think that you might get more mileage out of just having the homework done for the folks to show how your price meets or beats the competition...which should illustrate why the posted price is the final.

Perhaps it is a respect thing, but I am more likely to deal with someone who puts the bottom line up front rather than playing games by inflating a price so someone can get their ego stroked...and to spread the word that someone has a price better than the competitors.

 

[42769vette]

Perhaps it is a respect thing, but I am more likely to deal with someone who puts the bottom line up front rather than playing games by inflating a price so someone can get their ego stroked...and to spread the word that someone has a price better than the competitors.

that is what i currently do. i was thinking about changing it, and figured it would be a good idea to see what everyone looked for when pricing a item. i know how i do it, but that doesnt mean im the majority

 

[dubsac]

as we all know, well most of us anyways who have bought from you, know that you stand behind ur product 100% and are willing to match the prices of the big corporate stores sometimes not even making a profit. That says alot about ur character IMO

 

[themadmedic]

I think you are doing a lot of things right-if it ain't broke...

 

[chubbs]

I personally hate haggling. Its just not my cup of tea.

 

[NathanJefferson]

Another +1 for just starting at your price.

I don't like to haggle and I don't want to have to be all chatty and chummy with you for 30 minutes to try and get a better deal. The only time I ever try to haggle or deal is if I'm buying several items in a group or my most often one is if they will give a cash discount.

I almost always ask for a cash discount at the 1500, if they say no I just hand them my CC instead.

But if you put up a sign or not stating that you are already at the lowest price you can sell it for based on your contract and you can't find it cheaper online...

 

[bobbittle]

Definitely prefer not to haggle. May, as stated above, ask for a cash discount (typically I ask "5% off if I pay cash?", but I don't expect it.

 

[jsharmon7]

I think the shows are too crowded to bother with haggling. I look at the prices and go with the best one, unless I know the vendor. I don't have the patience to chat it up with every vendor who has an item I'm looking for to see if they'll budge. Knowing that you're an INGO merchant I would ask if you'd price match something so I could buy it from you instead, but many folks at the 1500 may not be INGO members or pay that much attention. I'd suggest putting your best price out there first. Just my opinion...

 

[Tydeeh22]

dealers themselves are where i wont generally haggle, especially on a new in wrapping item, but i tire of any "personal" seller not working with me on ANYTHING. i go to a gun show for DEALS, not to buy retail. that said, i can understand a "show special" that a dealer would be willing to run.

all in all. since you're a dealer. Leave it at bottom dollar. everyone has margins.

 

[GBuck]

Depends on where your prices are compared to others. From what I have heard about you, it would surprise me if even your 10% mark up wasn't cheaper or at least competitive with your competition. If it is, I would go with that, and maybe offer an INGO discount, and be willing to haggle with others.

It's not that I would want you to screw people, but you are running a legit business, and have to put food on the table. I don't think anyone here would begrudge you for doing that. If someone is willing to pay the 10% markup and your price is fair and competitive, let them pay that price. If they want to haggle, haggle.