9. Junk mail

How Price Matching Can Benefit You

The Effects of Competition on Price

Imagine it’s the summer, and you’re sitting cozily in your lawn chair on the side of Main Street in your hometown, watching the Fourth of July parade.  You are with your family, the sky is blue and the sun is hot, assembling all the necessary ingredients for a perfect holiday.   Although thoroughly amused at the colorful floats passing by and marching bands playing patriotic tunes, you begin to get thirsty.  For whatever reason, there are no stores nearby and you have forgotten to bring any water.

As your desire for water becomes more and more pronounced, you begin looking around for possible options to quench your thirst.  Fortunately, along comes someone pulling a little red wagon carrying a cooler, selling ice cold bottles of water.  Price per bottle: $2.50.  Somewhere in your mind you acknowledge that at one of the big box stores you can buy at least a dozen bottles of water for that price, but the demands of your thirst quickly squashes any rational thought.  You reach for your wallet or purse and as you do, your imagination dances with delight over the thought of the cool liquid cascading through your body.  Just before handing over the cash, however, you notice another vendor, selling the exact same bottle of water for $2.

All things being equal, the decision of where to buy your water is easy.  Where previously there was only one option, now there are two.  The decision-making process now turns to the first vendor, who is selling his water for $2.50.  He essentially has two options.  He can either go sell his water somewhere else, (This is known as being priced out of the market) or he can lower his price.  Even at $1.50 or $1.75, there’s still a fair amount of profit margin for the budding entrepreneur, so lowering his prices is a likely option if he wants to remain in business.

Competition Benefits Consumers

While the principles of competition can be very complex and differ in various markets, the simple analogy illustrates a very powerful concept.  Many times, we as consumers are benefited as we find ways to bring competition into the market for the products we buy.  The better you understand this concept and use it to your advantage, the farther your dollar will go.

In today’s modern world, we regularly utilize Internet sites that aggregate competitors’ prices for us.  For example, Orbitz.com and Travelocity.com bring together prices from various businesses for travel arrangements.  Carinsurancerates.com provides us with side-by-side comparison of car insurance policies and BillShrink.com shows us quotes for multiple cell phones and telephone providers.

Utilize Price Matching to Save

Beyond Internet websites, where else can we implement the strategy of bringing competition into the market?

Something we all purchase on a very regular basis is food from supermarkets.  Bringing competition into the market for groceries is known as price matching.  Make a list of the best prices from each of the grocery stores as seen in their circulars, in the newspaper and in advertisements.  Instead of going to each store in pursuit of their best priced items, take your consolidated list from all the supermarkets to one, and ask them to lower their prices to meet their competitors.

Do you go to the same place each month to get your hair cut?  No doubt you have established a relationship with your stylist or barber and enjoy the experience of catching up.  However, if you are paying $15 a month for the haircut and see a competitor advertising haircuts for $12, bring the ad in and ask them to match their competitors price.

What about with auto mechanic services?  If you take your car into the same place regularly for work, but you see a competitor advertising a discounted price, ask if they will match it.

What are other creative ways to bring competition into the market to lower the price of products you purchase?

Here are some of the places I have had success:

  • Telephone and Internet Service
  • Carpet Cleaning
  • Tree Trimming Services
  • Dental Work
  • Interest Rate on Mortgage
  • Purchasing (and selling) Used Vehicles

These are just a few examples.  Fundamentally, a business’s objective is to generate profits.  However, generally they would prefer to discount a service to you and retain you as a customer, than lose you to the competition.  Best of luck and keep this in mind as you make efforts to extend each dollar you spend.

photo by: StarsApart

89 thoughts on “How Price Matching Can Benefit You

  1. Pingback: GST Returns Auckland

  2. Pingback: Peruvian alpaca clothing the best alpaca shop of peruvian clothing

  3. Pingback: gf porn

  4. Pingback: the future of bitcoin

  5. Pingback: basement waterproofing

  6. Pingback: fathia balogun

  7. Pingback: TS TV Escorts from London

  8. Pingback: todoindie

  9. Pingback: www.cpns2016.com

  10. Pingback: GVK Biosciences

  11. Pingback: click over here

  12. Pingback: Cuap Bola

  13. Pingback: indica

  14. Pingback: bet535

  15. Pingback: how to make money with a iphone

  16. Pingback: DMPK Study

  17. Pingback: iraqi coehuman

  18. Pingback: Bdsm chat

  19. Pingback: Software klinik

  20. Pingback: ADME studies

  21. Pingback: iraqi Colarts

  22. Pingback: informatica

  23. Pingback: GVK BIO EU

  24. Pingback: Wedding Planning Services in Hyderabad

  25. Pingback: horoscope

  26. Pingback: top real estate agents

  27. Pingback: GVK Biosciences

  28. Pingback: guaranteedppc.com

  29. Pingback: lowongan maret 2018

  30. Pingback: freemoviesz

  31. Pingback: hoverboard

  32. Pingback: Anti aging snow algae

  33. Pingback: Meilleur exercice fessier pour

  34. Pingback: local time

  35. Pingback: Recipe Videos

  36. Pingback: vigorfit

  37. Pingback: csgo accounts

  38. Pingback: pet spa

  39. Pingback: Heena Khan Bangalore Escorts

  40. Pingback: Ambika Ahuja Jaipur Escorts

  41. Pingback: NEHA TYAGI PORN MODEL JAIPUR ESCORTS

  42. Pingback: JAIPUR ESCORTS ALIYA SINHA

  43. Pingback: BANGALORE COMPANION ESCORTS

  44. Pingback: Dhruvi Jaipur Independent Escorts

  45. Pingback: JAIPUR ESCORTS MODEL DRISHYA

  46. Pingback: Jiya Malik High Profile Jaipur Escorts Model

  47. Pingback: FUN WITH JAIPUR ESCORTS PUJA KAUR

  48. Pingback: XXX BANGALORE ESCORTS ROZLYN MODEL

  49. Pingback: XXX PORN SAPNA CHAUDHARY BANGALORE ESCORTS

  50. Pingback: Selly Arora Independent Bangalore Escorts

  51. Pingback: Enjoy With Jaipur Escorts Tanisha Walia

  52. Pingback: RUBEENA RUSSIAN BANGALORE ESCORTS

  53. Pingback: Bristy Roy Independent Bangalore Escorts

  54. Pingback: XXX PORN SRUTHI PATHAK MODEL ESCORTS

  55. Pingback: Bangalore Escorts Sneha Despandey

  56. Pingback: XXX PORN MODEL HONEY PREET ESCORTS

  57. Pingback: XXX PORN Radhika Apte Model Escort

  58. Pingback: How robot trading works

  59. Pingback: Ruby Sen Kolkata Independent Escorts

  60. Pingback: Diana Diaz Goa Independent Escorts Services

  61. Pingback: Diksha Arya Independent Escorts Services in Kolkata

  62. Pingback: Devika Kakkar Goa Escorts Services

  63. Pingback: Rebecca Desuza Goa Independent Escorts Services

  64. Pingback: Yamini Mittal Independent Escorts Services in Goa

  65. Pingback: Simmi Mittal Kolkata Escorts Services

  66. Pingback: Kolkata Escorts Services Ragini Mehta

  67. Pingback: Navya Sharma Independent Kolkata Escorts Services

  68. Pingback: Elisha Roy Goa Independent Escorts Services

  69. Pingback: Alisha Oberoi Kolkata Escorts Services

  70. Pingback: Divya Arora Goa Independent Escorts Services

  71. Pingback: Simran Batra Independent Escorts in Kolkata

  72. Pingback: Ashna Ahuja Escorts Services in Kolkata

  73. Pingback: Goa Escorts Services Drishti Goyal

  74. Pingback: Sofia Desai Escorts Services in Goa

  75. Pingback: Mayra Khan Escorts Services in Kolkata

  76. Pingback: Eva J Law Independent Goa Escorts Services

  77. Pingback: Fiza Khan Kolkata Escorts Services

  78. Pingback: Sruthi Pathak Escorts in Bangalore

  79. Pingback: Ambika Ahuja Jaipur Escorts Services

  80. Pingback: Bangalore Escorts

  81. Pingback: Bangalore Escorts

  82. Pingback: Sruthi Pathak Bangalore Female Escorts

  83. Pingback: freshamateurs92558

  84. Pingback: newtube sirius367 abdu23na432 abdu23na43

  85. Pingback: newtube sirius367 abdu23na432 abdu23na43

  86. Pingback: newtube sirius367 abdu23na432 abdu23na43

  87. Pingback: Sruthi Pathak Bangalore Escorts Services

  88. Pingback: Trully Independent Bangalore Escorts

  89. Pingback: Trully Independent Bangalore Escorts Services

Comments are closed.