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.
WHAT YOU’LL LEARN
In addition, students will learn how to monitor the market for trends, determine when a price adjustment is necessary, and maintain ongoing market research for application to products and services.
The first module covers initial considerations, such as the relationship between costs, profits, and pricing, determining the value of the product or service, and at what point in the process a price should be determined.
The next two modules outline common pricing methods and address the differences between pricing products and pricing services. There is a separate module for product pricing and one for service pricing.
Module four teaches the student about price adjustments, including when to use a marketing strategy versus when to adjust price, and how to increase prices graciously.
The fifth and final module introduces future-minded practices, including how to conduct ongoing market research and monitor the future of the market for the product or service in question.
RECEIVE YOUR CERTIFICATE IN 4 SIMPLE STEPS
Follow the easy peasy enrollment process
Absorb and remember course content with our easy-to-follow, structured information and helpful illustrations. And yes - you can study anywhere, anytime, from any device
Reinforce your learning with quizzes at the end of The Course
Once you’ve successfully completed your course and passed the exams, you’ll receive your certification. Congratulations on your amazing achievement!
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