Find Your Perfect Pricing

118 Broadway North,Fargo ND 58102

12 September, 2022

Description

Creating a Pricing Policy is one of the most strategic business decisions that must be made. One study of almost 2,500 companies showed that just a 1% increase in price lead to an average increase in profit of 11%! Price improvements have the greatest impact on a bottom line even above improving sales volume, variable costs or fixed costs. Currently, inflation, supply chain interruptions and staffing shortages have forced most of us to adjust our prices just to survive. Yet few companies have performed a deep analysis on how they are pricing. In this session we will move past "Cost Plus" pricing methods. We will discuss the history of pricing models, identify 12 drivers of price (and which industries they are most relevant for), dive into the psychology of pricing from the consumers viewpoint and finally, review how to perform financial analysis of your pricing strategy to make sure that your company can be successful using your new pricing model. This high-impact interactive workshop will include small group discussions on pricing policy. Please bring along a summary of your current pricing, your cost of goods sold calculations and any financial reports you have as you may wish to refer to them throughout the session.