How to develop a Pricing Strategy to maximise Profitability

How to develop a pricing strategy to maximise profitability.

This is the first of a series of workshops designed to help businesses price competitive and profitable goods and services.

This workshop discusses how to develop effective pricing policies for goods and services. We cover fundamental concepts and strategic considerations to help businesses set prices that maximise profitability while remaining competitive in the marketplace.

Topics covered in this workshop.

• Market research, understanding your product and your USP. (Unique Selling Point).
• Identifying your market and setting the right price for your market.
• Understand the factors that can influence prices and customer reactions to pricing.
• Evaluation of pricing policies and the use of Key Performance Indicators.
• Importance of understanding gross profit, how it is calculated and the factors that can affect it.
• Understanding business costs and the distinction between fixed and variable costs.