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How Pablo Picasso Dealt With The Price Objection

Written by: Jim Meisenheimer

Article Overview: Everyone in sales fears hearing the price objection, yet very few salespeople prepare how to deal with it.

How Pablo Picasso Dealt With The Price Objection

The price objection is what I always hear whenever I'm doing an in-house corporate sales training programs. I always ask the group this question. "What are the biggest challenges you face in growing your business?" They always say the price objection.

Within ten nanoseconds, someone raises his hand and says, "The price objection."

It never fails.

Is this how you feel? Do you find it difficult and aggravating to defend your price on a daily basis?

There is a better way. Why defend your price when you can explain your value?

But first let's see how Pablo Picasso dealt with the price objection when it was raised.

This is a story about Pablo Picasso. The source is unknown.

In Paris, there was a woman strolling along a street, when she spotted Picasso sketching near a sidewalk cafe.

"Not so thrilled that she could not be slightly presumptuous, the woman asked Picasso if he might sketch her, and charge accordingly. Picasso obliged. In just minutes, there she was: an original Picasso."

“And what do I owe you?” she asked. “Five thousand francs,” he answered.

“But it only took you three minutes,” she politely reminded him.

“No,” Picasso said, “It took me all my life.”

He established the value not the customer, though she wanted to.

What are you worth? Have you ever thought about that?

What's your time worth? What is your experience worth to a potential customer?

It seems to me that too often a price is put on a product. And this price is compared to a competitor's price. That's pure nonsense!

That's like Picasso being compared to Hooey Tooey a young painter in Paris.

Each painter has a sketch in pencil on paper. I'm sure a Un jeune peintre (a young painter) wouldn't consider charging five thousand francs for his sketch.

As an entrepreneur or professional sales representative you count.

Your ideas, creativity, and imagination count too.

Your experience counts even more.

If you don't share it with your prospects and customers they won't see your genuine value.

It's up to you to establish your value - the higher the better.

When you start thinking like Pablo Picasso, you'll start selling more and start selling more profitably.

Related Articles
  5 Steps to Asking for the Order in Sales
  How To Successfully Handle Objections
  Dealing with Sales Objections: Price
  Business Basics from Pablo Picasso
  Business Lessons from Pablo Picasso

Article Tags: challenges, competitor, creativity, daily basis, entrepreneur, imagination, nonsense, objection, pablo picasso, paris, pencil, professional sales representative, prospects, sidewalk cafe, three minutes, time worth



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Re: How Not To Start A New Business - Well, these guys these guys will not succeed at all. they need to have a way of doing things. First thing first, which market segment are they targeting? Or are they in the same segment the previous magazine was. They also need to understand the trends, currently people read online magazines so they need a website. After that they need to develop the marketing mix, which will guide them in their marketing activities. This marketing mix will be made of 4 Ps, which are Product, Place,Price and Promotion. I will assume the magazine is the product, the first P, The Price is what is the role the price will play in the market, do they want premium price, or do they want to skim the market. The other P, they need to have, is the Place, this will help in having a strategy on where to place their magazines, this includes the websites, malls, newspaper stands etc. The final P they need to develop is the Promotion, this is the advertising , channels, websites, forums, blogs, name it. Once they have done that, they can sit down and wait for money to come but not without superior customer service, otherwise without all this, they are wasting their time and money.
LastMinute New Web Site (Draft) - Louis, I like it much better than the previous one. I like Topic, Location, Date, Discounted Price. That is what I need to know to get interested. I believe that you are moving in the right direction. Andreas
What not to name your business - For about 15 years, a print magazine was published called Scarlet Street. Dealt with mystery, horror and science fiction movies, books, etc. Well..the publisher died, and his co-workers want to keep publishing a magazine in his honor. The pub's long-time companion doesn't want it to be Scarlet Street, so they've decided to call it.... Scarlet The Film Magazine And I think that's just about the worst name in the world! It doesn't say what the magazine is, or anything. Book store people will have a heck of a time figuring out where to place it on their magazine shelves. And... there's already a magazine called Scarlet, based out of the UK. A woman's magazine, which gets plenty of hits when one searches for it on Google. So any website they do is bound to get lost in the shuffle. I just think it's a terrible business decision all around.
Re: Is Gas Price Affecting Your Business? - I work at home so I don't have the need for car. My office is a few seconds walk from my bedroom. Gas Price is not affecting my business in any way. All my work is done online
Product promotion strategy - The effectiveness of our products is 200% Guaranteed. It is according to our feedbacks and the quality, reliability, efficiency and utility scale of the product. The product is not similar to any conventional products in the market at the moment. It could use to clean almost everything (include clothing’s) that do not contain Caustic Soda, Ammonia, Chlorine and Fumes. In short means, safe and do not work like bleach that damage the matter or fabric of the item being washed. Biggest Objection? I'm not quite too sure about what you are trying to ask here. If it for the product, it is fine. The product sell itself and I haven’t heard back from any of the customers yet. 99.9% of our customers came back for more and brought back more customers or buy for their friends n families. There were some customers that complained the products didn’t work. But majority of them didn't follow the instruction, and we convinced them to follow the instruction and they are happy again. If it for the business, I think the major objection or disadvantage for us now is the lack of business system, resources deployment and networking.


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