Business Pricing Strategies

ABOUT THIS COURSE

Have you ever wanted to start a business selling a product or service? Ever stopped because you didn’t know how much to charge?

the most difficult parts of starting up a business is deciding how much to charge clients for your product or service. The challenge of this comes from the delicate process of avoiding business failure.

To make money on a startup business, the owner must generate enough revenue to not only cover the costs of running the business but also to bring in a surplus, which is the business’s profit.

No one starts a business to break even! Charging too much or too little causes the product or service to become uncompetitive in the market, and will likely determine whether or not the startup business will fail.

COURSE BREAKDOWN

Module 1: Considerations to Make When Pricing a Product
  • 1.1 Costs, Profits, and Pricing: How are they Connected?
  • 1.2 When to Should Set the Price Point
  • 1.3 When to Review the Price Point
  • 1.4 Value-Based Pricing
  • 1.5 The Relationship between Product and Price
Module 2: Pricing Your Product
  • 2.1 Market Research for Products
  • 2.2 Cost-Plus Pricing
  • 2.3 Demand Pricing
  • 2.4 Markup Pricing
  • 2.5 Profit Margin and Future Planning
Module 3: Pricing Your Service
  • 3.1 Market Research for Services
  • 3.2 Determining Hourly Rates
  • 3.3 Determining Contract Rates
  • 3.4 Perceived Value vs. Profit Margin
Module 4: Making Pricing Adjustments
  • 4.1 How to Analyze Sales Trends
  • 4.2 When to Make Adjustments to Price Points (and when not to)
  • 4.3 Promotions vs. Price Adjustments
  • 4.4 Increasing Price Graciously
Module 5: Continuing Practices for Price
  • 5.1 Ongoing Market Research
  • 5.2 Maintaining a Profit Analysis System
  • 5.3 Monitoring your Market’s Future
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