How do you put a price on transformational change? Applying a price tag to your community-altering product or service may appear terribly practical, and for many the process may appear to require a sprinkle of magic, a sprig of fortune-telling, and a sack of audacity. This course introduces non magical, yet effective techniques to price your product or service to maximize both social impact and financial sustainability. We will help you identify important information about your business to allow you to make informed, strategic and effective pricing decisions: know your costs, estimate your value in the market, and even determine why and when you might like to charge some people a little and some a lot.
Overall Learning Goal
- What are your cost of goods sold and your marginal costs
- How best to offer preferential pricing to different customer segments
- Understand the different ways you can price a product or service, and the rationale behind each.
- When and why you want charge customers less than your marginal cost
- What is prestige pricing and the Veblen Effect
- What is value pricing and how do you determine value in the market
- Why is cost-plus pricing limiting?
- Understand marginal costs of production or delivery
- Competitor pricing research approaches
- When and why it makes sense to price below below marginal cost
- Apply a unique selling proposition to price
- Set and understand your business pricing objectives in the short, medium and long term
- Identify the marginal cost of each line of business and understand what that means
- Set the price on products or services to maximize social impact and financial sustainability over time.
By completing/passing this course, you will attain the certificate Course Completion Badge
Last Updated: February 15, 2019
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