“The moment you make a mistake in pricing, you are eating into your reputation or your profits”
Every business can benefit from applying an effective pricing formula to their produced products or services. Most importantly, to determine whether a price is fair and reasonable in a competitive marketplace, it is essential to know how to identify and utilize the correct resources during the assessment process.
Identifying the best price involves using a methodical price analysis which requires performing a marketplace competition comparison. On the other side, there is the Cost analysis; which is a more complex process that depends on a thorough assessment of the direct and indirect costs leading to the final total cost of the product or service.
How can costing and pricing review help me?
How can you help me? What makes you different?
“We love to dig into details”
This is our approach in costing and pricing review:
- We discuss the products/services that your company is involved into;
- We then start by gathering the required data about competitors;
- We analyze this data and make sure that it is valid and solid;
- We start building the pricing scenarios detailing every possible component;
- Then we dig deep into every cost element related to your production;
- We develop several sensitivity analysis to see every possible way of saving redundant costs;
- At last, we provide in-house training as to how to apply this exercise on a regular basis.
We can also provide monthly visits to make sure that things are still on the right track and/or the required corrective actions in case of deviating out from the planned path.