Sometimes, you find a better price for something. You might need to tell someone about it. This is when a “Sample Letter To Inform The Better Price” comes in handy. It’s a way to share cost-saving information.
Maybe you found a lower quote for a service. Or perhaps a competitor is offering a better deal. You could be a business owner or a regular consumer. This letter helps you communicate the price difference.
We’re here to help you write this letter. We have sample templates for you. They cover different scenarios. Use them to make your own letter.
Sample Letter To Inform The Better Price
**Sample Letter To Inform The Better Price**
[Your Company Name]
[Your Company Address]
[Your Company Phone Number]
[Your Company Email]
[Date]
[Recipient Name]
[Recipient Company Name]
[Recipient Address]
**Subject: Better Pricing Available**
Dear [Recipient Name],
We are writing to inform you about our updated pricing structure, which offers better value for your business.
After a recent review of our operational costs, we are pleased to announce price reductions on several of our key products/services, effective [Date]. Specifically, [mention specific product/service and new price].
We believe these changes will allow you to benefit from our high-quality offerings at a more competitive rate. We remain committed to providing exceptional service and look forward to continuing our partnership.
Please find the updated price list attached for your reference.
Sincerely,
[Your Name]
[Your Title]
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How to Write a Letter To Inform The Better Price
Subject Line: Capturing Attention Immediately
- Be succinct. Opt for clarity over convolution.
- Use keywords like “Price Adjustment Request” or “Revised Quotation Needed.”
- Avoid ambiguity. The recipient should immediately grasp the letter’s purpose.
- Example: “Price Adjustment Request – [Your Company Name] – Invoice [Invoice Number]”
Salutation: A Formal Overture
- Use a formal salutation unless you have a convivial relationship.
- “Dear [Contact Person],” is generally acceptable. If the contact person is unknown, use “Dear Sir/Madam,” or “To Whom It May Concern:”.
- Avoid overly casual greetings like “Hi” or “Hello” in a formal price negotiation.
Introduction: Setting the Stage
- Start by referencing the original quotation or agreement. This provides context.
- Briefly state the purpose of the letter: informing them of a more competitive price.
- Be courteous but firm in your assertion.
- Example: “Following our quotation on [Date] for [Goods/Services], we are writing to advise you of a more advantageous offer we have received.”
Body Paragraph 1: Presenting the Evidence
- Clearly articulate the better price you’ve found.
- Provide specifics: the supplier’s name, the quoted price, and any relevant terms.
- Be factual and avoid hyperbole.
- Example: “We have received a quotation from [Supplier Name] for the same goods at a price of [Price] per unit, with similar delivery terms.”
Body Paragraph 2: Underscoring the Value Proposition
- Reiterate why you value your relationship with the recipient.
- Highlight the benefits of continuing the partnership beyond just price.
- Mention factors like quality, service, or established rapport.
- Example: “We deeply value our ongoing collaboration and the consistently high quality of service we’ve experienced. We hope to maintain this relationship.”
The Ask: A Direct Proposition
- Clearly state what you want them to do.
- Ask if they are willing to match or better the competitive price.
- Provide a deadline for their response to expedite the process.
- Example: “We would greatly appreciate it if you could review your pricing and advise us by [Date] if you are able to offer a more competitive rate.”
Closing: A Cordial Farewell
- Use a formal closing such as “Sincerely,” or “Respectfully,”.
- Leave your name and title.
- Include your contact information for easy follow-up.
- Pro Tip: A handwritten signature adds a personal touch.
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Frequently Asked Questions: Informing Suppliers of Better Prices
This section addresses common inquiries regarding informing suppliers about better prices you’ve received from competitors. Understanding best practices can help you negotiate effectively while maintaining positive supplier relationships.
What information should I include in the letter?
The letter should clearly state the product or service, the competitor offering the better price, the price offered, and any relevant terms or conditions.
How formal should the tone of the letter be?
Maintain a professional and respectful tone throughout the letter. Avoid accusatory or demanding language.
Should I include a deadline for the supplier to respond?
Yes, provide a reasonable deadline for the supplier to review the information and respond with their decision.
Is it necessary to provide proof of the competitor’s offer?
Providing verifiable proof, such as a written quote, strengthens your position and demonstrates the legitimacy of the competitive offer.
What if the supplier cannot match the competitor’s price?
Acknowledge their position professionally and consider exploring alternative solutions or mutually beneficial adjustments.