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Profitable Pricing (3)

1. Profitable Pricing Strategies 

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 this session 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

2. 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. 

During this session you will:

  • Recognise where your business sits in Bowman’s Strategy Clock
  • Determine price sensitivity for your business offer
  • Research Garvin’s Price and Quality Comparisons (example video)
  • Discuss Wickersham’s 7 Step Pricing Structure 

3. Confident Negotiation

There is no single formula for successful negotiation. In one situation, you may need to tread carefully and make concessions. In another, you can be fast and aggressive. In particular, a one-off deal is different from a series of deals with one customer or supplier. But there are a few golden rules experienced negotiators refer back to time and time again. 

During this session you will:

  • Consider Thomas & Kilmann’s conflict model
  • Recognise the BATNA (best alternative to a negotiated agreement)
  • Plan the negotiation process including the ZOPA (zone of possible agreement)
  • Debate some hard-nosed tactics

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“I had this fear that by putting an increase in I would loose clients. We did a 360 degree appraisal of how we priced including using different business models, personal productivity and capacity as well as simply increasing the hourly rate.  That gave me the push I needed to review and change our pricing.  We have seen a massive difference to the top and bottom line!” Debbie Cohen

  1. Prices per session start from £500, for a tailored agenda, excludes handouts and workbooks
  2. Either session can be delivered as a webinar lasting 1 hour, with audience Q&As from £200
  3. This material can also be delivered as a series of coaching sessions over a period of 5 weeks via a one hour Skype or Google hangout

Make contact for a free initial telephone consultation without obligation.

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