:: Instructor-led Classes

Product Pricing

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Course Details

Product Pricing

Pricing is the fastest and most effective way for companies to increase profitability.   Studies show that a 1% increase in pricing has a greater positive impact on profitability than does a 1% increase in sales volume or a 1% decrease in costs.  Unfortunately, too many companies think tactically about pricing and do not effectively price for profitability.  This workshop is designed to help small business owners and managers to understand common mistakes that companies make in pricing and learn best pricing practices that will enable them to maximize company profitability.

Course Objectives

Upon completion of this course, the participants will be able to:

  1. Understand key principles and a process for defining pricing
  2. Define pricing based upon their market strategy and value proposition
  3. Apply the principles of Value-Based Pricing to their own business situation

Business Success Skills Certificate Program

This class is eligible for the Business Success Skills Certificate Program. Participants who complete six classes will receive a framed gold seal Business Success Skills Certificate jointly from both The University of Texas at Austin Professional Development Center and City of Austin Small Business Development Program.

Rationale

This workshop is designed to help small business owners and managers to understand common mistakes that companies make in pricing and learn best pricing practices that will enable them to maximize company profitability.

Type of Course

Short course - 3 hours

Course Outline

  1. What is Price?
  2. Good Pricing Begins With Strategy
  3. Market Factors That Influence Price
  4. How to Set Your Pricing Using Value Based Pricing
  5. Pricing Tactics to Attract More Usage
  6. Case Study in Pricing
  7. Exercises to Define Pricing on Your Own Products & Services

Summary and Guide to Resources for Continued Development

City of Austin Small Business Development Program

Coordinator(s)

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