Low Ball Technique
Low ball technique is a sale and persuasion technique where a service or item is offered to a potential buyer at a price lower than it is actually intended to be sold and afterwards the price is increased to maximize profit. Low-ball technique is explained by cognitive dissonance theory. A person who has started enjoying an excellent deal prospect and future benefits of a service, item or idea is not likely to back out because this would result in cognitive dissonance. To prevent this, the person plays down negative effects of extra costs.
To be successful, low ball techniques entails striking a balance in requests. The seller makes the initial price attractive so that they can strike an agreement. At the same time, the dealer makes the second price outrageous so that the customer can refuse. The steps of using this technique are as follows:
- Propose a price that you are confident or certain that the buyer will accept
- Maximize buy-in of the customer especially by getting their commitment through public and verbal communication. For instance, you can do this through a handshake or a down payment
- Make everything clear so that those around can see that the buyer made a free will decision to purchase the item
- Change the initial agreement to what you want. If you manage the low ball technique properly, the buyer will agree to your new price although they will complain for a while.
Low ball technique has been used severally in different businesses. Sellers quote a price and then claim that it was a mistake implying that the real price of the item or service is actually higher. Most customers are usually inclined to buy the commodity at the newly proposed price because they already have made a decision and plan to purchase it.
In the contemporary society, individual entrepreneurs and several companies employ the low ball technique as a way of luring customers into buying their products. Others use the technique to gain personal benefits.
The initial low price is used to catch the attention of potential customers. The companies offer eye-catching discounts but these are just baits for luring customers. Naturally, people are attracted to undue advantages and this is what makes the low ball technique successful.
A seller must ensure that the potential buyer is fixated on the offer that a company has. Although the technique is seen as being unscrupulous, it has been used successfully in different marketing fields.
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