Master Pricing: Balance Profit and Customer Retention

Overview

Pricing can often feel like guesswork. You may wonder, “Could I make more profit if I charged more?” but also worry about losing customers. Many businesses simply add a markup to costs, but pricing can be far more nuanced and effective than that. This course shows you a logical, practical way to find your optimal price (one that increases profits without driving customers away). You'll learn how increasing profits comes from getting your pricing maximised instead of trying to sell more or produce more. We’ll combine simple calculations with real-world experimentation to identify your ideal price point. No more guessing - just clear strategies. You’ll also learn how to confidently explain and justify your prices so customers understand the value and stay loyal. We’ll cover proven pricing theories, including skimming, psychological pricing, loss leaders, add-ons, pricing for startups, and strategies for repeat business. You’ll then also discover how to adapt pricing to different situations to grow sustainably while keeping customers happy. With over 25 years of experience in negotiation, selling, and running a business, Chris Croft has distilled what truly works. If you’re ready to stop guessing and start pricing with confidence, this course will help you make pricing simple and more profitable.

Syllabus

Why is Pricing So Important?

This first module looks at an introduction to pricing and why it is so important to the success of your company.

Why you probably need to put prices up

You might feel nervous about the idea of putting your prices up, and so this section will explain in more depth why that is so important and how it will benefit your business long term.

Fear of losing business

Here we determine a real life number for your ideal price. Based on calculators, theories and examples you will find a figure which optimises your long term profits.

Setting the perfect price

There are a few nuances to setting your price and these will be covered in this next section. Things like forgoing profitability, launching a new business, and what to do if you are overcapacity on demand.

How to get the increase

Setting and enforcing your price can be daunting, so this section looks at the word for word phrases you can use to assert your price, and why you should stay strong when negotiating.

Other pricing tactics: good and bad!

Finally, let's look at other common pricing tactics and assess them for pros and cons. What is the best method to use for your specific industry and your business goals.