Getting pricing right is a vital consideration for practically every type of venture – whether you are pre-start, early-stage or established as an owner-manager or employer.
Overview:
We’ll look at the principles of pricing and:
- Differing approaches to pricing a service and/or a product
- Calculating costs, prices, breakeven, mark-up and margin
- The pros and cons of discounting
- How pricing astutely can improve profitability and enhance brand loyalty
Agenda:
- The ‘Third’s Rule’
- Increasing sales revenues
- Pricing models
- Service-based: setting an hourly rate
- Product-based: breakeven per unit
- Mark-up vs Margin
- Price vs Value
