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E20065 - Pricing for maximum profit: How to set just-right prices

Summary

The prices you charge for products or services are too important to leave to guesswork. Too low and you’ll run headlong into cash flow problems. Too high and your customers will turn away. Find out how to set a price point that’s just right to give your business the best chance to thrive at this essential workshop.

Details

Discover what’s behind every good pricing strategy so you can develop one of your own that strikes the right balance between profit and greater market share. Understand why pricing is the most important ‘p’ in the marketing mix, why both must be aligned to your business objectives, and the parts played by demand, cost, product lifecycles and your competitors. Find out how to improve cash flow, avoid the five most common pricing mistakes, steer clear of price wars, when to use discounting and how it impacts profits. <br> Get on top of the key numbers, including gross margin, mark-up and breakeven, and learn how to identify your best sellers so you can pump up the profits. Delivered by a small business financial expert and packed with practical tips, tools and techniques you can apply straight away, this workshop includes a free one-on-one mentoring session to guide you through the process of developing a pricing strategy of your own. Most small business owners find pricing difficult. Make it easy at this essential Small Business Victoria workshop, one of many that have helped businesses in Victoria get started for over 10 years. Includes a free follow-up one-on-one mentoring session with an experienced small business finance mentor. Learn how to: • Develop an effective pricing strategy to match your business objectives • Monitor and manage key numbers • Understand gross margin, mark-up and breakeven • Identify your most profitable goods or services • Recognise five common pricing strategy mistakes • Discount effectively • Access tools, templates, support and resources in future.

Session Times

Location

Ballarat Business Centre
15 Dawson Street South
Ballarat Central 3350

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Ballarat Business Centre
15 Dawson Street South
Ballarat Central 3350
Bookings Open
Contact Information

5364 2900
reception@ballaratbusiness.com.au
Bree Grundell

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