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For many people, one of the most difficult parts of starting up a business is deciding how much to charge consumers for your product or service. The challenge of this comes from the delicate process of avoiding business failure.
To make money on a startup, you need to make enough money to cover the costs of running the business and bring in a surplus, which is your profit. No one starts a business to break even!
Charging too much or too little makes you uncompetitive in the market, and will likely determine whether or not the startup business will fail. Charge too little and you may lose money. Because of this, choosing an initial price point is a decision that plagues many new business owners.
This course is designed to lead the student through the best practices for pricing products and services to set an initial market value. In addition, you will learn:
- How to monitor the market for trends
- The relationship between costs, profits, and pricing
- Determining the value of the product or service
- The differences between pricing products and pricing services
- Common pricing methods
- Determine when a price adjustment is necessary
- Conducting ongoing market research
- How to monitor the future of the market for the product or service
Requisitos
Trendimi courses are designed for anyone with an interest in learning. No formal qualifications are required. Our courses are suitable if you want to learn new skills, start a new career, or if you’re already working in a particular industry and wish to upgrade your talents and enhance your resume.
Lecciones
Module 1: Considerations To Make When Pricing A Product
- Costs, Profits, and Pricing: How are they Connected?
- When to Should Set the Price Point
- When to Review the Price Point
- Value-Based Pricing
- The Relationship between Product and Price
Module 2: Pricing Your Product
- Market Research for Products
- Cost-Plus Pricing
- Demand Pricing
- Markup Pricing
- Profit Margin and Future Planning
Module 3: Pricing Your Service
- Market Research for Services
- Determining Hourly Rates
- Determining Contract Rates
- Perceived Value vs. Profit Margin
Module 4: Making Pricing Adjustments
- How to Analyze Sales Trends
- When to Make Adjustments to Price Points (and when not to)
- Promotions vs. Price Adjustments
- Increasing Price Graciously
Module 5: Continuing Practices For Price
- Ongoing Market Research
- Maintaining a Profit Analysis System
- Monitoring your Market’s Future
Carrera
¿Para quién es este curso?
This course is ideal for those who:
- Want to start a business
- Have already started their business, but feel their pricing is not ideal
- Are managing or leading a small business
- Are looking to increase their knowledge of small businesses
- Everyone who is interested in all aspects of creating and successfully running a small business
Certificados
You will be required to complete each lesson in full, and answer exams at the end of each course module. If your pass rate exceeds 55% on each exam then you are eligible to access a certificate of achievement or other accreditation options to recognize your achievement.
Most of our courses will earn you credits through Continuing Education (CE) / Continuing Professional Development (CPD). CE/CPD points are accepted and recognized by professional member bodies and academic institutions across the US and internationally.
All courses are accredited by the International Council for Online Educational Standards (www.icoes.org).
When successfully completing a course, students can choose to purchase an ICOES certificate that recognizes the achievement, from this third-party institution.
Business Pricing Strategies
3220 estudiantes. Acreditación ICOES. Certificación CPD.
3220 estudiantes.
Acreditación ICOES.
Certificación CPD.
Acerca de
For many people, one of the most difficult parts of starting up a business is deciding how much to charge consumers for your product or service. The challenge of this comes from the delicate process of avoiding business failure.
To make money on a startup, you need to make enough money to cover the costs of running the business and bring in a surplus, which is your profit. No one starts a business to break even!
Charging too much or too little makes you uncompetitive in the market, and will likely determine whether or not the startup business will fail. Charge too little and you may lose money. Because of this, choosing an initial price point is a decision that plagues many new business owners.
This course is designed to lead the student through the best practices for pricing products and services to set an initial market value. In addition, you will learn:
- How to monitor the market for trends
- The relationship between costs, profits, and pricing
- Determining the value of the product or service
- The differences between pricing products and pricing services
- Common pricing methods
- Determine when a price adjustment is necessary
- Conducting ongoing market research
- How to monitor the future of the market for the product or service
Requisitos
Trendimi courses are designed for anyone with an interest in learning. No formal qualifications are required. Our courses are suitable if you want to learn new skills, start a new career, or if you’re already working in a particular industry and wish to upgrade your talents and enhance your resume.
Lecciones
Module 1: Considerations To Make When Pricing A Product
- Costs, Profits, and Pricing: How are they Connected?
- When to Should Set the Price Point
- When to Review the Price Point
- Value-Based Pricing
- The Relationship between Product and Price
Module 2: Pricing Your Product
- Market Research for Products
- Cost-Plus Pricing
- Demand Pricing
- Markup Pricing
- Profit Margin and Future Planning
Module 3: Pricing Your Service
- Market Research for Services
- Determining Hourly Rates
- Determining Contract Rates
- Perceived Value vs. Profit Margin
Module 4: Making Pricing Adjustments
- How to Analyze Sales Trends
- When to Make Adjustments to Price Points (and when not to)
- Promotions vs. Price Adjustments
- Increasing Price Graciously
Module 5: Continuing Practices For Price
- Ongoing Market Research
- Maintaining a Profit Analysis System
- Monitoring your Market’s Future
Carrera
¿Para quién es este curso?
This course is ideal for those who:
- Want to start a business
- Have already started their business, but feel their pricing is not ideal
- Are managing or leading a small business
- Are looking to increase their knowledge of small businesses
- Everyone who is interested in all aspects of creating and successfully running a small business
Certificados
You will be required to complete each lesson in full, and answer exams at the end of each course module. If your pass rate exceeds 55% on each exam then you are eligible to access a certificate of achievement or other accreditation options to recognize your achievement.
Most of our courses will earn you credits through Continuing Education (CE) / Continuing Professional Development (CPD). CE/CPD points are accepted and recognized by professional member bodies and academic institutions across the US and internationally.
All courses are accredited by the International Council for Online Educational Standards (www.icoes.org).
When successfully completing a course, students can choose to purchase an ICOES certificate that recognizes the achievement, from this third-party institution.
