Pricing and Positioning Your Products and Services
Do you struggle with setting your prices?
Setting the right price for a new product or service can be one of the biggest problems faced by small business owners. Costing your product or service can be relatively straightforward, but pricing must take account of what competitors are charging and what customers will be prepared to pay, but clearly the price needs to cover all the costs and allow for a profit.
Knowing how to determine the right price for your product or service is critical. There are many factors to consider such as direct costs, indirect costs, your customers and your competitors. The workshop will consider practical strategies to balance the right price for your product or service and sales volumes – so that you are working towards achieving your business objectives.
We will cover:
- Direct & Indirect costs and their calculation
- Consider costs for service-based business
- Consider costs for a production-based business
- How much to charge?
- How do price and sales volumes interact?
- Different pricing strategies
The Thrive service has been fully-funded by the European Development Fund to allow us to offer you 12 hours of free business support through a range of one-to-one advice and workshops with expert advisors and speakers. This workshop forms part of the free support available to you so please visit our Thrive page for the full details.
Please note that we usually allow 10 to 15 minutes at the start of our workshops to complete a couple of forms which are a requirement for the funding of the Thrive service, and enable us to provide this support to you for free! Please ensure that you have your or Company Registration Number or Unique Taxpayer Reference (UTR) Number to hand.
To be eligible to attend this free workshop you need to be based in Devon or Somerset (excluding Torridge, North Devon, North Somerset & BaNES). If you are unsure, you can check by entering your postcode into the Government Council Checker. You can find further details about the eligibility criteria here.
The Heart of the South West Growth Hub Service for All is receiving up to £781,965 of funding from the England European Regional Development Fund (ERDF). The accountable body for this programme is Devon County Council.