Should I MATCH My Competitor's Price? | Machine Shop Talk Ep. 64

So you got a request for quote, you quoted the work – and now the purchaser is coming back either asking for a price reduction or is asking you to match another shop's price. Is this something you should entertain, or should you run as fast as you can? On this episode of MACHINE SHOP TALK, Ian Sandusky from Lakewood Machine is heading back into the Practical Machinist forums to tackle this scenario put forth by a member. While every company should be open to feedback from customers and potential clients, there are situations when it comes to pricing and quoting that can be difficult to navigate. At what point does chasing the best price turn into forcing companies to race to the bottom? How do you establish a foundation of trust between you and your customers when it comes to pricing? What do YOU do if a potential customer asks for a price reduction, or asks you to price match a quote from another shop? Let us know in the comments below! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Practical Machinist is the largest and most engaged #metalworking community across the web. With more than 160,000 registered members and 400,000+ social media followers, Practical Machinist is the easiest way to learn new techniques, get answers quickly, and discuss common challenges with your peers. Visit Practical Machinist today to join the community and start connecting with your peers. Become a Practical Machinist member (https://www.practicalmachinist.com/) Like us on Facebook (  / practicalmachinist  ) Follow us on Instagram (  / practicalmachinist  ) Follow us on Twitter (  / prac_machinist  ) Follow us on TikTok (  / practicalmachinist  ) Connect with us on LinkedIn (  / practical-machinist  ) Connect with Ian Sandusky on LinkedIn (  / ian-sandusky-3a223227  ) or learn more about Lakewood Machine and Tool at https://lakewoodmachine.com/ [email protected] (905) 853-6194 Instagram:   / ollow   Ian Lakewood Machine (https://lakewoodmachine.com/)