Sustainable profit growth is a key business objective. Many small business owners are unsure how to price their products and services to achieve sustainable profit growth. This course will discuss the basic requirements and strategies for effective pricing, the art of increasing prices, the pros and cons of discounting, along with effective pricing management techniques for sustained profit growth. PREREQUISITES INCLUDE: A basic understanding of the Profit/Loss or Income statements, or completion of the ISBDC course: Financial Management for Profit.
Building on the concepts covered in the first class, this second class will explore some advanced pricing strategies that reward a business for the value it is delivering to the market place, to achieve sustainable profit growth. Several strategies to defend pricing and maintain profit margins will be covered in an enhance Pricing Management discussion. PREREQUISITES INCLUDE A basic understanding of the Profit/Loss or income statement and the first class-Pricing for Profit Growth.