Ones quoted one price
Me being in Penang for the last 25 years has been such an experience. Great friends, good schools and what a life there. Penang too has been famous for food and shopping. Gurney Plaza and Gurney Paragon have been one of the favorite destinations for shopping at Gurney Drive. I was there recently and found out that they were offering free car parks from 12 pm -2 pm with terms and conditions apply, which were very similar.
Some customers may say that they are out doing each other. Trying hard to outdo each other to attract patrons to the malls; that was before the corona hit Malaysia. It is very similar to our industry, where one vendor may try to outdo each other with price. It will be more evident especially when the industry is not doing well. Prices could have from 30% - 50%. Is that the only way to attract potential or new clients? Many don't understand that there is always pros and cons when it comes to such decisions. In my personal opinion, there are more disadvantages than advantages especially when it comes to the long term. One of them is what happens if you want to increase or return to your original value? The answer, it's tough to return to your original value. Why? Because humans are like that. Ones quoted one price.
There was a question also posted to me. If we do bring down our price would it give the impression that one's professionalism will drop as well? That's a good question. Mankind is a very funny little creature. They would want low at price but they may be afraid that the quality of the service may drop as well. So it is very hard to please one especially when it comes to one value.