“Pricing & Costing: The Art of the Market Meets the Science of Cost Accounting”

Moderator: Catherine Gardiner, President, CG Marketing & Communications, Tēlōs Enterprises & GroYourBiz Chair, Calgary, AB

Hosted By: Bloom

Price is a critical decision in any business, yet information on pricing is quite scarce.  This workshop is a crash course in both market pricing and cost accounting especially as it relates to growing business.  Our topics include:

  • Introduction: In this section, we discover the ‘Four C’s’ of Pricing and how they play a role in determining the viability of the viability of a product or a business.
  • Understanding Cost (Finding your Inner Cost Accountant): We examine the different cost types, how they impact your prices, and how costs change as your business grows. Of the three things, all entrepreneurs should know cold one is a full understanding of your costs.
  • Market Pricing (Where the fun begins): In this section we discover prices as perceived by your customer. We examine how price is integrated into your marketing strategies, how psychology affects price, and how price anchors are essential for pricing decision.  To apply these to business development we introduce the concept of strategic pricing which is using pricing to achieve specific business goals. Finally, we examine pricing pitfalls and tactics designed to help you integrate pricing into your overall business plan.

This session is designed to challenge everything you know about setting your prices and encourages entrepreneurs to reconsider their pricing beliefs and assumptions. Pricing just may be the most important decisions you make in your business…and good decisions make for great businesses.

*Please Note: ALL Sessions are LIVE, no recordings are available at this time.

Speaker:  Bill Erichson, CEO, William Erichson Business Solutions Ltd.