Westmeath

... Making It Happen

Costing & Pricing Getting The Price Right 11th July LEO231200

Venue:
Online through Zoom
 
Date:
11/07/2023
 
Note:
11th & 18th July
 
Time:
10am to 1pm
 
Category:
Business Training
 

Are you an early-stage business startup struggling with pricing your product or service? This 6-hour (2x3hr sessions) workshop will give you a focussed, foundational & repeatable model to define the pricing & valuation model for your new product or service!- ACE Professional Services

This event is no longer available
 

Costing & Pricing a Product or Service - Getting the Price Right

New to business and not sure you're charging the right amount for your product or service? This 6-hour (2x3hr sessions) workshop will give you a focussed, foundational and repeatable model to define the pricing and valuation model for your products or service.

The price of a product or service needs to cover all the costs involved (assessing the job, travel, labour etc) and allow for a profit.  It must also take account of what competitors are charging and how much customers will be prepared to pay.

If you set too high a price it may lead to lost sales but setting your price too low will reduce your profits.

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.

Outcomes:

You will have a model for pricing that will ensure your costs are covered and that you will 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:

  • Prior to the Workshop, the Trainer will email you a link to enable you to join the Training at the specified time on the specified date.
  • Bookings are strictly limited to businesses with a registered business address in Co. Westmeath
  • If you make a booking and have a registered business address in another County, LEO Westmeath reserves the right to cancel your booking.

The different methods of pricing will be explored and will be useful for both manufacturing and service businesses.  Learn how to do it right each and every time.

This programme will be delivered remotely - Trainer ACE Training Ltd 

6 hour course over two mornings 

Dates &Times

  • 11th July - 10am to 1pm
  • 18th July- 10am to 1 pm

 

 

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