Pricing Strategy online event

When was the last time you reviewed the prices for products or services in your business? Are you confident that you correctly identified all actual costs before setting the price? One of the best ways to achieve profit in your business is to review your pricing strategy. Whatever your costs are you must add a margin that makes your business financially viable before you determine the price. Completely flawed methods of pricing that will cause a business to fail include an owner having a 'hunch' as to what customers can afford, pegging your prices to competitors (who may be about to fail), and just adding an incremental increase periodically without checking actual costs.

Learning Objectives:
1. Learn how to conduct a pricing review including accurately identifying all costs.
2. Maximise profit by determining which pricing strategy is best for your business including identifying what viable margin needs to be added to costs.
3. Gain an understanding how customers perceive value and dispel the myth that customers are price sensitive.

Learning Outcomes:
1. Avoid a business failure due to incorrect pricing by immediately implementing a comprehensive pricing review.
2. Maximise revenue by promoting to your customers the total value of your products and services (price is merely one component of customer value).
3. Ensure profitability into the future by implementing a regular timeline for a pricing review such as quarterly, or at the very least annually.

About the Presenter:Greg Bowers
Greg’s Business experience extends over 30 years across small businesses, not-for-profit, national and Multinational Companies.
This experience includes being on several boards of directors, including NFP, thus ensuring capability through all levels of business.
Greg has specialized in business-to-business (B2B) supply chains, manufacturing, sales, marketing, financial management and continual improvement.
Greg has significant experience living and working in regional Australia and understands the local business environment, its challenges and opportunities.
Greg has successfully worked with loss-making and turn-around businesses during the recent COVID situation.
Within these regional areas, Greg has led capital-raising ventures and business acquisitions, supporting local Councils/LGAs and Chambers of Business.
Strategic and business planning, and importantly ensuring implementation and outcomes from those strategies, is a skill Greg is passionate about.
Coaching and development for business owners and managers is a passion of Greg’s that is strongly supported by his background working with a wide range of business sectors.

About the Host: Dales Whyte.
Dales Whyte’s career and success are achieved by utilizing the many skills gained in a diversity of business ownership and management roles, along with his successful ability to interact with people from all levels.
Dales’ ability to ask quality questions, drill down and understand the needs of small businesses has enabled him to provide advice and assistance to hundreds of small businesses across a diversity of industries.
His ability to communicate with customers is beyond question, with many years in radio, sales and marketing, making him a skilled and valuable advisor to regional businesses.

This webinar is aimed at small businesses throughout NSW who have just started or have an established business and we have the capacity to host up to 50 people.

Business Connect is a dedicated and personalised NSW Government program that provides trusted advice to help you start, run, adapt or grow your small business.