About

Have you ever wanted to start a business selling a product or service? Ever stopped because you didn’t know how much to charge?

One of the most difficult parts of starting up a business is deciding how much to charge consumers for your product or service. The challenge of this comes from the delicate process of avoiding business failure. To make money on a startup business, the owner must generate enough revenue to not only cover the costs of running the business but also to bring in a surplus, which is the business’s profit.

No one starts a business to break even! Charging too much or too little causes the product or service to become uncompetitive in the market, and will likely determine whether or not the startup business will fail. Charge too much and the target market may seek out more cost-effective options. Charge too little and the business may not be able to net any profits from sales. Because of this, choosing an initial price point is a decision that plagues many starting business owners.

If you’re thinking about starting a business, this course will start you on the path to planning and executing a smart, future-focused price point that will set your business on the path to a workable profit margin.

    Requirements

    International Open Academy courses are designed for anyone with an interest in learning. No formal qualifications are required to study with us. Our courses are suitable if you want to learn new skills, start a new career, or if you’re already working in a particular industry and wish to upgrade your talents and enhance your resume.

    Lessons

    Module 1: Considerations To Make When Pricing A Product

    • Costs, Profits, and Pricing: How are they Connected?
    • When to Should Set the Price Point
    • When to Review the Price Point
    • Value-Based Pricing
    • The Relationship between Product and Price

    Module 2: Pricing Your Product

    • Market Research for Products
    • Cost-Plus Pricing
    • Demand Pricing
    • Markup Pricing
    • Profit Margin and Future Planning

    Module 3: Pricing Your Service

    • Market Research for Services
    • Determining Hourly Rates
    • Determining Contract Rates
    • Perceived Value vs. Profit Margin

    Module 4: Making Pricing Adjustments

    • How to Analyze Sales Trends
    • When to Make Adjustments to Price Points (and when not to)
    • Promotions vs. Price Adjustments
    • Increasing Price Graciously

    Module 5: Continuing Practices For Price

    • Ongoing Market Research
    • Maintaining a Profit Analysis System
    • Monitoring your Market’s Future

    Career

    Who is this course for

    This course is ideal for those who:

    • Want to start a business but want more information
    • Have already started their business, but feel that their pricing is not optimal
    • Are managing or leading a small business
    • Are looking to increase their small business knowledge and skill set 
    • Who are deeply interested in all aspects of creating and successfully running a small business

    Career path

    Upon completion of this course, you will:

    • Be able to confidently price the services and goods in your business
    • Focus on other aspects of your business, knowing that you have the correct skills to set prices
    • Assist other businesses with their pricing strategies
    • Share the benefits of your knowledge in a consultancy
    • Help friends and family

    Certification

    You will be required to complete each lesson in full, and answer exams at the end of each course module. If your pass rate exceeds 55% on each exam then you will receive a certificate of completion, to recognize your achievement. You can immediately download your PDF course certificate from IOA.

    Most of our courses will earn you credits through Continuing Education (CE) / Continuing Professional Development (CPD). CE/CPD points are accepted and recognized by professional member bodies and academic institutions across the US and internationally.

    All courses are accredited by the International Council for Online Educational Standards (www.icoes.org). When successfully completing a course, students can choose to purchase an ICOES certificate that recognizes the achievement, from this third-party institution.

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    Business Pricing Strategies

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    About

    Have you ever wanted to start a business selling a product or service? Ever stopped because you didn’t know how much to charge?

    One of the most difficult parts of starting up a business is deciding how much to charge consumers for your product or service. The challenge of this comes from the delicate process of avoiding business failure. To make money on a startup business, the owner must generate enough revenue to not only cover the costs of running the business but also to bring in a surplus, which is the business’s profit.

    No one starts a business to break even! Charging too much or too little causes the product or service to become uncompetitive in the market, and will likely determine whether or not the startup business will fail. Charge too much and the target market may seek out more cost-effective options. Charge too little and the business may not be able to net any profits from sales. Because of this, choosing an initial price point is a decision that plagues many starting business owners.

    If you’re thinking about starting a business, this course will start you on the path to planning and executing a smart, future-focused price point that will set your business on the path to a workable profit margin.

      Requirements

      International Open Academy courses are designed for anyone with an interest in learning. No formal qualifications are required to study with us. Our courses are suitable if you want to learn new skills, start a new career, or if you’re already working in a particular industry and wish to upgrade your talents and enhance your resume.

      Lessons

      Module 1: Considerations To Make When Pricing A Product

      • Costs, Profits, and Pricing: How are they Connected?
      • When to Should Set the Price Point
      • When to Review the Price Point
      • Value-Based Pricing
      • The Relationship between Product and Price

      Module 2: Pricing Your Product

      • Market Research for Products
      • Cost-Plus Pricing
      • Demand Pricing
      • Markup Pricing
      • Profit Margin and Future Planning

      Module 3: Pricing Your Service

      • Market Research for Services
      • Determining Hourly Rates
      • Determining Contract Rates
      • Perceived Value vs. Profit Margin

      Module 4: Making Pricing Adjustments

      • How to Analyze Sales Trends
      • When to Make Adjustments to Price Points (and when not to)
      • Promotions vs. Price Adjustments
      • Increasing Price Graciously

      Module 5: Continuing Practices For Price

      • Ongoing Market Research
      • Maintaining a Profit Analysis System
      • Monitoring your Market’s Future

      Career

      Who is this course for

      This course is ideal for those who:

      • Want to start a business but want more information
      • Have already started their business, but feel that their pricing is not optimal
      • Are managing or leading a small business
      • Are looking to increase their small business knowledge and skill set 
      • Who are deeply interested in all aspects of creating and successfully running a small business

      Career path

      Upon completion of this course, you will:

      • Be able to confidently price the services and goods in your business
      • Focus on other aspects of your business, knowing that you have the correct skills to set prices
      • Assist other businesses with their pricing strategies
      • Share the benefits of your knowledge in a consultancy
      • Help friends and family

      Certification

      You will be required to complete each lesson in full, and answer exams at the end of each course module. If your pass rate exceeds 55% on each exam then you will receive a certificate of completion, to recognize your achievement. You can immediately download your PDF course certificate from IOA.

      Most of our courses will earn you credits through Continuing Education (CE) / Continuing Professional Development (CPD). CE/CPD points are accepted and recognized by professional member bodies and academic institutions across the US and internationally.

      All courses are accredited by the International Council for Online Educational Standards (www.icoes.org). When successfully completing a course, students can choose to purchase an ICOES certificate that recognizes the achievement, from this third-party institution.

      7839 Students

      Guarantee

      Accredited

      Accredited