Do you price according to your competitors' pricing?

I know that's probably a bit of a naive question, but if you're pricing for what the market will bear, what help do you turn to for that? What product? What is out there besides VinSolutions? Or are you less interested in what your competitors are asking than in what you must price it at to make a profit?

Additionally, who is your competitor? Do you consider only those geographically nearby or are you starting to think about the Carvana's and Beepi's of the online auto-sales world?

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Permalink Reply by Sharon Hill on November 7, 2014 at 7:14am

The Herb Chambers video is wonderful! I can't imagine a consumer not being impressed by this. Frankly, if I were in Boston and looking for a new car, this video would bring me to Herb Chambers for sure. Starting out acknowledging consumer concerns and then focusing on the details of why they should trust you is an awesome marketing strategy, IMO.

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Permalink Reply by Brian Bennington on November 7, 2014 at 8:08pm

Wow Steven, what a great commentary. However, while I picked up on your "Kobayashi Maru" comparison right off the bat (I'm a long time Star Trek lover and it's been a "must see" for me since its Sept., '66 first episode), there's probably a good number of DE members who don't "get it." I especially liked your personal story of working for a dealership who also didn't "get it." How depressing that dismissal must haver been, but you do have the satisfaction of knowing that anyone they'd replace you with wouldn't be nearly as VDP knowledgable. I'd just mark it up to the truism that "no good deed goes unpunished."

Sharon Hill must be a bit surprised to see how far this post has moved from her initial question, but she did a great job of getting everyone's "juices flowing." (I don't know her but I think she might remember me as "Mr Jerky," a title I've work hard at maintaining all my life.) As I called your bio-listed employer and they said you were no longer there, please allow me to suggest you update your bio to help get the word out your available (that is, if you still are). Also, please know I hardly know a thing about your field as I quit selling cars when using the Internet in the business was still in its infancy, but I did design and install two auto websites over 20 years ago.

My expertise is relationship centered marketing, and I've been proficient enough at it to.... (Attention Steven: I see no reason to continue this as we just got off the phone after spending a hour discussing how to monetize your lifelong love, a truly enjoyable expenditure of my time. Good luck on "Plan B" and maybe we'll see each other in Glendale. One final and terribly discouraging note. From sixty on, it's all downhill and it's continually picking up speed!)

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Permalink Reply by steven chessin on November 7, 2014 at 8:54pm

Thanks so much Brian.

You are right. I am very fortunate that I developed a solution to a universal problem. I was taught that the only 3 reasons people do not buy a car are the "3Ms" ... wrong salesman ... wrong money ... wrong machine. But when all of those fail - there is one last option. "Plan-B". ---- True, that some won't want it. But enough will.