- This event has passed.
How to Price Products
Mar 6, 2018 @ 3:00 pm - 4:30 pm
We will briefly go over the “4 P’s” of marketing, but then focus the workshop on effective methods of pricing products. We will begin with basic pricing strategies such as; cost + profit, odd/even, prestige, predatory, and several others typically used.
Then we will discuss “antes vs. drivers” and how to find your driver. Your drivers are what makes you unique or how you differentiate your product from your competitors; it is typically a service you provide in addition to your product. Once you have an understanding of what the drivers are in your business you can find ways to leverage this feature of your business and how you market it beyond just the actual product to bring in additional revenues.
Part of this workshop will be utilized for all attendees to develop a SWOT analysis, for both them personally and also for their businesses. In a groupthink format often businesses from different industries offering different products within a marketplace find similar opportunities and threats and can help each other find ways to capitalize on the opportunities and troubleshoot solutions to the threats.
A SWOT is something that all businesses should have, and often one of your strengths can be leveraged as your driver. Recognizing what your strengths are and converting them into drivers can dramatically help businesses with pricing to maximize revenues.
** Registration is required prior to the workshop.
About the Instructor:
Joe Walker has been teaching Business Management, Marketing and Hospitality/Travel & Tourism at the post-secondary level for the past 19 years. During that time Joe has developed a passion and strong understanding of what motivates consumers in their purchase decisions.
Joe also has “real-world” experience as a business owner, having successfully owned and operated a sole proprietorship, a partnership that was incorporated and as a franchise owner. These experiences give him an understanding of human resources, marketing, business plans, marketing plans and advertising/promotional campaigns.
Additionally he is currently the President of Monadnock Travel Council and on the Board of Directors for Granite State Ambassadors, two NH based non-profit organizations whose goal is to promote and increase travel and tourism in the state.