Your valued recurring customer tells you on the phone "we found a cheaper price" for same product or service! What would you do to keep him/her?

For a valued recuring customer, I will do everything within the company's policies to retain him/her. If I can't I will quickly esculate the issue to the next level up asking for help to retain the customer.

Conceptually, price is not the only valued criteria which customers look for. A valued recuring customer will understand that, but if we are facing a price war, it is the management responsibility to decide how to proceed to win and therfore they must be immediately informed.

Does any one have any additions, other opinions or complementary answers? Please go ahead…

We have to face it that there is a constant change in everything from products to services even to company even the mind of customer changes every now and then,if a long time customer tells you that they found another company same product cheaper price they are silently telling you that they want to stay with the company they might not verbally inform you but by taking time to call and just to inform you this is the chance for you to step up and provide a solution,because i know supervisors and managers have the capability in deciding wether you can reduce the membership or the monthly charges or a discount or gift card it is a plus if your prowess in customer service will exceed their expectations they will stay with the company

By apologize , Because variation in costing for the same product is very common factor in current competition scenario.

By guide him/her that the brand store have certain costing for any product  & a retail store not comes under the same.