Costing & Pricing Workshop

The workshop will look at how costs are arrived at – what are the key components to be factored into the cost – fixed costs, variable cost and the cost of capital. A number of costing models will be explored in the workshop. The workshop will look at Breakeven Analysis and how to calculate it. The Workshop will cover the principles of Pricing as one of the key components in the 4Ps of the Marketing Mix, the influences on Pricing and Pricing Strategies.

Course Content:

Pricing Fundamentals

• Pricing Strategies - From Premium to Economy
• The Forces on Price - Customers, supplies, costs
• Market Based Pricing Vs Cost Based Pricing
• Costing Models - Manufacturing and or service based
• Market positioning and its influences on price
• Developing the price spectrum for your business
• Routes to Market and Channel Marketing - Managing intermediaries to maximise margins and manage costs
• Sweet Spot Customers & Developing a value proposition - Targeting the right customer for your business, selling benefits not features, understanding and communication of the product/service value not costs.

Course Outputs

At the end of the workshop participants will have:

• Adopted a pricing strategy for the business
• Created a price spectrum for the business offering
• Identified different 'routes to market' options to maximise margins
• Understood customers and their perceptions of price
• Adopted an appropriate Costing methodology for their business