Costing and Pricing
Course
Blended learning in London and Manchester
Description
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Type
Course
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Methodology
Blended
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Location
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Class hours
6h
To understand how to accurately cost and price products and services in order to help make a business profitable. You can start this course at any time and study at hours to suit you during daytimes, evenings, Saturdays or a mixture, on a flexi-study basis. Suitable for: Aimed at individuals who need to know how to use pricing strategies and different pricing methods in order to set the right price for their service or product.
Important information
Documents
- Costing and Pricing
Facilities
Location
Start date
Start date
Start date
Start date
About this course
Experience of Microsoft Excel
Reviews
Teachers and trainers (1)
Self - Paced
Trainer
Course programme
Lesson One – What to consider when pricing a product, factors which affect the profitability of a business. Common price-setting strategies, factors which influence the customer’s decision to buy. Ways to check that the price is right, how increasing or decreasing selling price affects profit, ways to market and sell products, defining direct costs and indirect costs, recovering costs.
Lesson Two – Examples of a service business, identifying overheads of a typical service business, calculating a suitable hourly rate, defining fixed costs, variable costs and semi-variable costs, understanding the break-even point on a graph, formula to calculate the break-even point, limitations of break-even analysis.
Lesson Three – What ‘contribution’ is and how it is calculated, how fixed costs, variable costs, selling price and profit interact, using Excel to carry out appropriate calculations, how contribution theory can help to make business decisions, setting out and interpreting a marginal cost statement, understanding what is meant by ‘absorption costing’.
Additional information
Career opportunities: Marketing and accountancy.
Students per class: 1
Contact person: Course Advisors
Costing and Pricing