
When launching a new business or introducing a new product you need to consider so many things:
- Who is going to buy it?
- What will customers be willing to pay?
- What your Cost of Goods (Cogs) are?
- If you can make a profit?
Defining Your Product
The objectives of this part of the session are to:
- Establish what your product is
- Gain clarity on the “Value” of your product
- Identify ways to make your product better or diversify your offer
By the end of this section you will:
- Recognise the value of what you have to offer to your target customer
- Strengthen your offer and be able to clearly communicate it to your customers
Pricing for Profit
The objectives of this part of the session are to:
- Gain clarity on available revenue models and pricing strategies
- Understand the TRUE cost of your product
- Recognise the value of your product in the marketplace
By the end of this section you will:
- Know the revenue models/pricing strategies relevant to your business
- Decide which model works for your business
- Be able to discuss pricing terms with confidence (margin, profit, gross, net etc)