Pricing is a very important aspect of being able to sell a product or a service. I understand this even more after I started my own business. When I started initially, the only way I used to price for our products and services was to determine the cost incurred by us and then adding a suitable margin of profit on top of that.
However, this is not always the best way to get returns for what we have worked for. A much superior way is to Price based on the Value of what we are offering as a Product or Service.
This course discusses the nuances of Value-Based Pricing.
While we try to examine all aspects discussed in this course from general perspective, I have focused on how a small firm should approach Pricing for its Products and Services. Further, while we also discuss general Consumer Products, I have focused on Products and Services offered by one Organisation to another Organisation.
I have tried to include a lot of examples so that it becomes easy to understand the discussions. The examples are taken from real situations and thus should help understand not only the concepts; but also the various practical implications and remedies.
- A brief knowledge of Economics will help (but not necessary)
- A brief knowledge of Costing will help (but not necessary)
- Some experience of doing business in any form would help (but not necessary)
- Cost-Based Pricing
- Value-Based Pricing