Price is the element of the marketing mix that is going to have the greatest impact on your profit. Profitable pricing of a company’s services or products is essential to its growth. Price quite often determines the company’s position in the market place and helps differentiate a service or product from a competitor. Moreover, understanding the impact of using different pricing strategies to penetrate the market or to generate cash or to manage a competitor entry can help you maximise your profit and solidify your position in the market place.
During the course of this master class, you will:
- Identify the factors that affect the price of your service (or products)
- Calculate the optimum price levels for service (or products) offered
- Discuss the push pull effect on prices in an unstable environment
- Select competitive approaches to pricing your service (or products) for growth
Optional session 2 covers the interpersonal skills for facilitating a price increase
Get in the habit of reviewing your pricing strategy every year, it’s important to your financial health. Failing to increase your prices regularly will result in a point in time when you have to do it to just to maintain a profitable margin. You don’t want to get into a profit crunch position do you? Raising your prices isn’t about being greedy, it’s about being sensible. In this session you will:
- Recognise where your business sits in Bowman’s Strategy Clock
- Determine price sensitivity for your business offer
- Research price and quality comparisons
- Discuss Wickersham’s 7 Step Pricing Structure
Prices per session start from £500, and includes, handouts, and a tailored agenda.
Either sessions can be delivered as a webinar lasting 1 hour, with audience Q&As from £200
Make contact for a free initial telephone consultation without obligation.