Pricing for Profit
“Pricing For Profit” is a lot more than just a catchy phrase. Many businesses set their selling prices by simply copying what their competitors charge. While this might work, this will often lead to losses and not profits for any individual company. In order to Price for Profit, a company needs to know their costs – both variable and fixed costs. But, they also need to know what the market will pay for a given product and what their competitors are charging. After all of these factors have been reviewed, a reasonable price structure can be established.
Selling your product at the right price is one of the more important Keys to Success in Business. In this workshop, the presenter will go over the basics of understanding your costs of doing business and relate these costs to an understanding of Gross Profit, Margin and Markup. With this information, you should be in a much better position to put the RIGHT PRICE on your product or service.