How do you advertise a competitive price and hold gross at the same time?
What tactics is your dealership using to balance the need to use competitive, market-driven pricing to generate traffic with the desire to hold gross?
When you price high you get no traffic but when you price competitively (or even aggressively) you have little or no room to negotiate.
How is your dealership currently handling this dilemma?
When you price high you get no traffic but when you price competitively (or even aggressively) you have little or no room to negotiate.
How is your dealership currently handling this dilemma?
Replies to This Discussion
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Permalink Reply by Steve Richards on -
Learn how to better justify the trade-in, sell accessories to your customers before AutoZone or someone else does, unerstand the advantages of leasing and actively communicate those advantages to the customer then take advantage of the F&I opportunity.
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Permalink Reply by Bobby Compton on
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What tactics is your dealership using to balance the need to use competitive, market-driven pricing to generate traffic with the desire to hold gross?
Very Simple - Sell Value over Price... Low Price = Low Value... B.C.
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Permalink Reply by Mark Dubis on
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Here is a good presentation by Dennis Galbraith that pretty much sums it up. http://bit.ly/deGTHE
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Permalink Reply by Ed Brooks on
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Mark Dubis said:
Mark - Great comment, it's spot on! Dennis Galbraith is always clear and loaded with insight. In his video he mentions RealDeal reports. Of course I think RealDeal is the most elegant way to justify - and hold - a competitive price, but a dealer doesn't have to use RealDea,l or even vAuto, to employ the tactics Dale Pollak has been discussing with dealers lately.Here is a good presentation by Dennis Galbraith that pretty much sums it up. http://bit.ly/deGTHE
Dale will be conducting a free webinar this Friday titled: Documentation Replaces Negotiation: 4 Easy and Effective Strategies to Improving Gross Profit. He'll be discussing ways that any dealer can justify their price and do it without spending a dime.
Here's the link to the dealerELITE event page for the webinar: Dale Pollak Webinar - Documentation Replaces Negotiation: 4 Easy and Effective Strategies to Improving Gross Profit
Again, it's costs nothing to attend or to implement the ideas discussed!
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