SO2107 Pricing for early stage Startups

SO2107 Pricing for Early Stage Start-ups

This 6-hour (2x3hr sessions) workshop is designed to give a focussed, foundational and repeatable model to define the pricing and valuation
model for new products and services.

Topics covered during the Workshop will include:

• defining the inherent value in the product/service
• examination of both variable and fixed costs
• establishing the 'cost floor' of the product/service by applying easy formulas to calculate the unit cost
• the four C’s model of pricing will explored, taking account of the Intermediary Costs, Competitor Factors and Price Ceiling
• defining the economic value to the customer of your product/service & examining the customer's 'willingness to pay'
• the 'psychology of pricing' including referencing, fear of missing out & other factors used by established brands on a daily basis

You will learn how to apply these elements to your own pricing models and how to use price innovation to test pricing and define the price sensitivity of your customer segment; prior to setting the final selling price for your product/service.

Methodology:

The workshops will be presented in two weekly 3 hour slots using Zoom. It is an active learning environment in which the material covered
will be applied directly to the businesses taking part. There will be a breakout session in each slot where you can use exercises to move forward with your pricing models and discuss your progress in smaller groups. Some of the participants will present their models as the work moves forward.

Outcomes:

You will have a model for pricing that will:

• ensure your costs are covered
• enable you to capture the full value you are providing for your customers, earning the maximum income possible for the supply of your product or service.

How it Works:

• Training will be delivered online.
• In advance of the Workshop, you will be emailed a link to join the Workshop on the relevant date/time

Please Note:

• Bookings are strictly limited to businesses with a registered business address in Co. Sligo.
• If you make a booking and have a registered business address in another County, LEO Sligo reserves the right to cancel your booking.