Objectives:

Create awareness in participants on how to design and develop a unit costing system for product/services. Develop a costing and pricing system which is both viable and sustainable for an SME.

Content:

• The importance of overhead recovery to a small business yet trying to be competitive
• System of collating relevant, timely data towards effective costing practices
• Gathering information around competitors costing and pricing and establishing if there are ways of cutting ‘own’ cost base
• How to ensure sustainability and viability of a business through good costing, pricing procedures
• Using qualitative data (other than figures) to assess cost and price competitiveness
• Templates outlined towards developing an in-house model for a small business
• Job –v- unit costing. (Illustration through Cast Studies)
• Pricing to ensure customer retention, recovery of owner’s time, provision of future capital enhancement
• Better pricing practices
• Staying ‘ahead’ with information on suppliers, material, full costs –v- variable cost pricing
• The importance of regular review of pricing policy
• Pricing in a way that the market will take
• Taking a ‘hit’ on the price but staying in business (the ‘why’, the potential benefits)
• Pricing and costing towards growing a business and giving owner/manager an adequate return on capital employed
• Providing extras in the service/product offering that can help reduce reliance of price as the key purchasing criteria
  

Tutor:

John Dempsey
Dempsey Professional Services Ltd.