Webinar: Pricing Your Product to Maximize Profits
Don’t Sell Yourself Short! Pricing Your Products to Maximize Profits
Many small business owners struggle with how to price their product and services. And way too many of them significantly undervalue themselves in the process; their time, their expertise and the added value!
There are several factors that influence what you can and should charge customers: competition, industry practices, demand, and your costs are just some of them. By using an arbitrary percentage, for example, cost times could cause you to miss out on some profit opportunity. Trying to be the lowest priced provider, can either get you into a price war with competition, or create a lower quality perception of your product, and it’s very tough to raise prices. Setting prices too high can leave you with a lot of inventory that you can’t sell. In this workshop, we’ll help you identify a process you can use to help you develop a pricing strategy that’s right for you.
- Conducting Market Research
- Pricing Models
- Pricing for a Services or Consulting Company
- Determining if your prices are working for you
- When to raise or lower prices
- Know your customer(s)
Frank DeSantis Bio:
Frank J. DeSantis is a certified Score Mentor. He is the former Program Manager of the Emerging Enterprise Center, a small-business incubator, located at the New Castle County Chamber of Commerce.
Prior to joining the EEC, Frank was Executive Vice President with SCORE Delaware, the nation’s largest volunteer business counseling organization. Frank joined SCORE in 2009, after a 36 year career with Sears Holdings Corporation, Inc. Frank also previously was an Adjunct Faculty member at Delaware Technical and Community College, where he teaches a variety of business courses in strategy, accounting and funding for entrepreneurs. He also serves on the Advisory Board for DTCC’s Business Technologies Department.
At Sears Holdings Corporation, Inc., Frank worked in the Stores, as a merchant, operations manager, store manager, district manager and regional human resource manager, where he developed the customer focused, operationally driven, P&L accountability skills to get things done, profitably. At the Home Office, Strategy and Business Development, Marketing and Customer Relationship Management roles, along with the stores background helped develop a practical, collaborative approach to solving problems. It is these experiences which Frank now shares with his students, and small business owners looking to succeed.
After graduating from Newark Senior High School, Frank attended the University of Delaware graduating with a degree in Business Administration – Marketing. He resides in Newark, and is a member of St. Anthony of Padua parish where he volunteers every year at St. Anthony’s Italian Festival. Frank also is active with the Delaware Ovarian Cancer Foundation.
Official EEC Technology Partner,