In this "new" age of austerity where all the news is about cut-backs, then it is inevitable that your customers will start to use the situation to demand lower prices from you. Your challenge is to ensure that you get the order at a price that is profitable for you. To do that your customer has got to see value in choosing you rather than your competitor. Yes, you will likely have to sharpen your pencil to get your price looking attractive but there are others things you can do apart from straight and dangerous discounting.

Here is a selection taken from my SpotLearn.com Sales and Marketing Academy.

1. Are you buying better from your own suppliers -savings which you may be able to use to lower your prices?

2. Price for value:  Take a lesson from street sellers who understand better than anyone the principle of value-based pricing. Umbrella prices go up the moment it starts raining. It has nothing to do with the cost of the goods, and everything to do with the value the customer places on the product.

3. Focus on profit, not margin: Many businesses equate “high margin” with pricing success.  Maybe so, but a high margin can also point to opportunities to serve more customers by using discount tactics as well. Profit is your goal, not margin.

There's more tips in The Achiever and price and profit learning videos in the SpotLearn Academies