Host: D2N2 Growth Hub
Location: Action Planning Workshop
It stands to reason if prices are pitched too high, products and services won’t sell, go in too low and you might barely cover your out-costs. It’s clear then that finding that ‘sweet spot’ in pricing, both maximises profit and sustains demand for pretty much every business, elemental in securing commercial success.
In this session we will cover key pricing concepts and models - ranging from those driven by pure maths, to those informed by psychology and human behaviour. We will also explore the difference between margin and mark-up, the various ways to set a price and a model for evaluating the impact that different pricing decisions might have on your business.
This session is primarily aimed at SMEs and is ideal for owners and finance managers who are responsible for making strategic pricing decisions and would like to acquire the tools needed to choose the right pricing strategy for their business.
Please note that this workshop is open to trading SMEs based in Derby, Derbyshire, Nottingham and Nottinghamshire. Businesses located outside of this area will be unable to attend and instead directed to alternative support.
Exploring the mechanics of pricing, including concepts of variable and fixed costs and how they relate to the prices being charged.
Understanding the difference between gross margin and mark-up and how to calculate them.
Looking at ‘break-even’ and understanding why it’s important to know what it is for your business.
Summarising seven key pricing strategies, their uses and the pros and cons of adopting them.
Providing you with pricing psychology top tips.
Choosing the right pricing strategy.
Assessing financial impact of pricing decisions.
Looking at a case study focusing on a local business and the outcome of their pricing decisions.
After attending this workshop, you will:
A heightened understanding of the key pricing concepts.
A clear understanding of how to set prices to maximise returns.
A range of tools to help you decide on the best pricing strategy for your business.
This is an interactive, Action Planning Online Workshop. You will leave this session with handouts and a practical action plan which can be implemented within your business. Where possible, we would like to encourage you to join this session with your video camera turned on and when instructed by the facilitator, you may un-mute your microphone to take full advantage of the interactive nature of the workshop. For the best user experience, we recommend joining the workshop using Chrome or Firefox as your web browser.
10.00am - 10.50am - Workshop presentation
10.50am - 11.00am - Break
11.00am - 11.50am - Workshop presentation
11.50am - 12.00pm - Break
12.00pm - 12.45pm - Workshop presentation
12.45pm - 1.00pm - Q&A
This business-essential session is presented by Alice Davidchack, an experienced Chartered Management Accountant and a Business Coach. She works with business owners throughout the UK, helping them to develop robust financial strategies and create business models that work.
Alice coaches on all aspects of business finance planning and accounting, including cash flow management, budgeting and forecasting.
This workshop is hosted by the D2N2 Growth Hub, East Midlands Chamber and part-funded by the European Regional Development Fund.Book Now
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