Business workshop to focus on pricing for profit

February 6, 2017 by  

Springvale business owners are being invited to a Pricing for Maximum Profit short workshop.

Organised by the City of Greater Dandenong in conjunction with Small Business Victoria, the workshop is being held to help small businesses take the worry out of pricing.

A spokesman for the organisers said the topic is an essential part of any business and one of the most important Ps within the marketing services arena.

The workshop, he said, aims to remove the guesswork from individual pricing strategies and help business operators adopt the right approach to help boost market share, as well as profits.

He said a firms pricing strategy can define buyer behaviour and revenue, and the ability to get it right could see a business thrive, adding that there are many financial aspects to consider, including competitor rates, mark up, gross margin and what is needed to be charged merely to survive.

The workshop will reveal an effective pricing strategy, as well as the secret to establishing a balance between increasing market share and profits.

Participants will also discover ways to avoid common pricing mistakes and how to equip themselves with the most effective tools and skills to see their business objectives achieve success.

Workshop attendees will be provided with an hour-long mentoring session in a follow-up session with key small business mentors.

The workshop will be held at Dandenong Civic Centre on Wednesday, February 15.