Legal Research

"How to Compete on Price"

This post was written by Jordan Furlong: "One of the oldest pieces of marketing advice in the legal profession is: "Don't compete on price." Wiser heads than mine constantly warn lawyers not to cut their prices to match what other sellers are providing, that engaging in a price war for legal services is as potentially ruinous as getting involved in a land war in Asia. There are at least three reasons for this:

1. Price wars are a death spiral...

2. Price-cutting leads to quality reduction...

3. Price is an important marketplace signal...

So it's both sensible and logical to tell lawyers not to compete on price. Yet for all that, I've come to believe that it's not good advice anymore. I think we need to learn, as a profession, how to compete on price in ways that sustain our businesses..."

The full text of this post is available by clicking on the author's name.

Source: Law21ca, 25 May 2010. © 2008 Jordan Furlong, reproduced with permission of the author

Full post as published by Stark County Law Library Blawg on May 28, 2010 (boomark / email).