(The price shown is for less than 500 employees. For prices for more than 500 employees download full pdf brochure here.)

Managing an essential pillar of profitability

“Profit has to be a means to other ends rather than an end in itself.” Charles Handy

“When a company’s profits slip, its position is tarnished. People are reluctant to buy from companies in financial trouble.” Regis McKenna

Pricing is a major source of competitive advantage – firms can compete directly and overtly on price and take market share. It also provides a way to increase loyalty to a brand or product, to enable firms to enter new markets, to sustain the life of an established product or to provide a vehicle for special offers and supporting other sales techniques. Viewed another way, if the price is wrong then the business can collapse – and at best, an opportunity is wasted.

This toolkit explains how to set a competitive price for your product or service.

Length: 11 pages

Contents:

The Benefits

Action Checklist: Pricing
• Understand the issues affecting pricing
• Review costs and understand cost structures
• Apply break-even analysis (cost-volume-profit or CVP analysis)
• Understand the market and the firm’s competitive position
• Consider using price innovations

Key Concepts

Avoiding Problems – this provides practical techniques to avoid problems and overcome potential pitfalls when pricing.

Dos and Don’ts

Key Questions

Things You Can Do
• View pricing from the buyer’s perspective
• Develop your customer’s interest, encouraging them to act now
• Build a sales culture that generates increased revenues
• Review the effectiveness of past sales techniques
• Gather customer feedback
• Use pricing to exceed customer expectations

Further Action

Further Information