Setting a pricing strategy can be quite challenging for a small business.
Owners often struggle to gauge how much customers are willing to pay: many fear setting prices too high and losing customers or too low and not covering costs.
In today's economic environment, customers are already price sensitive. With online shopping so prevalent, they can easily compare prices too.
Changes in consumer trends and market conditions require businesses to adjust their pricing strategies which is tough if you don’t have much financial headroom or don’t know it in the first place.
Deciding between cost-plus pricing, value-based pricing, competitive pricing and other strategies can be overwhelming and selecting the wrong approach will affect the profitability and sustainability of your business.
This webinar will examine the pros and cons of different pricing strategies and discuss the importance of market research, cost analysis, setting pricing objectives, testing prices and how you communicate them, leaving you better placed to price confidently.
Delivered by Business & IP Centre Northamptonshire.
This webinar is for people living in the UK only.
Prior to the webinar you will receive an email with the webinar link and details. Please add bipc@westnorthants.gov.uk to your contact's list to avoid our email going into your junk mail.
Following the event Business & IP Centre Northamptonshire will send a feedback form which we would be grateful if you could complete to allow us to monitor the success of our events. This is facilitated by our third party processor Reason Digital Limited.
For enquiries please email bipc@westnorthants.gov.uk
This project is part-funded by the UK Government through the UK Shared Prosperity Fund.
