How to Price Your Product or Service

How to Price Your Product or Service

Course Duration: 1 Hour

During the Covid lockdowns, we saw the emergence of thousands of small businesses, most of them set up by first-time entrepreneurs. Simultaneously, Fiverr and other gig-worker / freelance portals are enabling digital marketers, content creators, writers and coders to start their own businesses.

One such Home Chef approached me. She was seeing tremendous growth in demand for her customised pastries. Business was doing well, she thought. However, even after several months, her bank account was not reflecting any earnings from the business. I realised that the problem was with her Pricing. She was losing money with every sale she made.

For any business, price is one of the most important metrics that connects sellers with buyers. And a primary determinant of profits. However, most sellers believe that their control over Price is, at best, minimal. Price, they believe, is set through market forces and they just have to follow what their competitors are charging.

But, what if you could exercise more control over price?  What are the drivers of Price? And more importantly, Profit?

Whether you are an entrepreneur, a gig worker or a corporate employee, this course will provide you with a foundation of learning on How to Price Your Product or Service.

Learn how to Price your service or product through a better understanding of Cost, Benefit, Value and how they are linked to Price.


COURSE CONTENT

1. Introduction

2. What is Price?

3. Understanding Your Cost

4. Establishing Value

   Assessment: How to Price Your Product or Service

What will you learn?

• Understand the concept of price and learn about various methods used to decide the price of a product or service

• Learn about the concept of cost and types of cost that should be considered while deciding the price of a product or service

• Understand how to establish the value of the product or service with your customer

• How you can work on all three to create a Win-Win for yourself and your customer

About this Course

This course is part of the Smart Entrepreneur | Foundation Program by GlobalGyan Academy. This bundle is designed to help gig workers, first-time entrepreneurs, self-employed professionals and consultants/freelancers, and college students to build a basic understanding of running their own business.

Other courses in this bundle include:

1. How to Build your Brand

2. How to Negotiate Effectively

3. How to Manage Your Time Efficiently

(All coming soon to Udemy.)

Create a Win-Win for the Business and the Customer

Url: View Details

What you will learn

• Understand the concept of price and learn various methods in developing the price of a product or service
• Learn about the concept of cost and the types of cost that should be considered in setting the price
• Understand how to establish the value of the product or service with your customer, in relation to the price

Rating: 4.65

Level: All Levels

Duration: 1 hour

Instructor: Srinivasa Addepalli