Printing Press Company Business Plan Pricing Strategy Segment
Table of Contents
Printing Press Company Business Plan Pricing Strategy Segment – Are you planning to prepare a business plan for your printing business? Are you a start-up printer or an existing experienced printer? Do you need a business plan to run your printing business? If your answer is YES to any of these questions, then, this post is for you. You know what? The importance of this segment of your business plan lies on the fact that your pricing level depends on your unit cost of production and in fact, your pricing method depends on what your unit cost of production is.
In fact, this’s an essential part of your Printing Business Plan. It’s that part of the marketing strategy section of your business plan that you manipulate to generate your desired revenue. Therefore, you may wish to group it within the financial analysis of the business plan. But, the fact is, it should come after describing your product/services. Because the reader would immediately want to know about your product prices. Whichever way you want to group this, this segment is important.
Printing Press Company Business Plan Pricing Strategy Segment – Unit Cost of Production:
As a matter of fact, this segment generates the unit cost of your product/service. It’s the aggregation of all your variable and fixed costs that relate to the product/service. If you know the principle of mass production, you would agree with me that variable costs and fixed cost of production matter in cost unit analysis. The higher the quantity produced the lower the fixed unit cost becomes. After the break-even point, the business man/woman begins to make his/her profit based on the level of mass production in place.
Printing Press Company Business
Pricing strategy for manufacturers deal with manufacturing pricing models, or contract or batch manufacturing pricing model. Therefore, pricing strategies include those companies with unique pricing strategies indicating which department in a company sets the price of a product and how companies price their products.
On the other hand, pricing strategy for retails businesses and services entails retail pricing methods, retail pricing formula including how to price products for retail, pricing strategies in retail management and wholesale pricing strategy. Pricing is involved in whatever business you re involved in.
Consequently, whether you engage in small scale printing, large scale printing, DI printing processes, or runs a freelance printing business, your pricing strategy determines whether you will survive in the business or not. So take this post seriously.
Furthermore, this post is a follow-up to our previous publications in the following titles. Therefore, you may need to read all together so as to have broad knowledge of the goings-on in the business plan for DI printing businesses and their cost analysis.
- Sample Business Plan for Printing Company in Nigeria
- Printing Press Company Business Plan Cost Analysis
- Modern Printing Press Business Plan in Nigeria
- Modern Di Technology Printing Press Business Plan
- Small Capital Printing Press Business Plan
- Printing Press Company Business Plan Checklist
Relevant Questions:
Consequently, when you re writing your business plan at the business feasibility analysis segment, these models must come to play. The questions you must answer are:
- What type of business re you into?
- What is the industry practice?
- How is pricing determined in your environment?
- What is the best recognised practice?
- How do you decide what to charge for a product/service?
- What re the major categories of pricing strategies?
- What is a cost based pricing strategy?
Research wise, do the following first:
- Know the market.
- Know how competitors charge
- Think about other factors – especially, externalities
- Work out your unit cost
After this, choose the best or combination of pricing techniques among the following:
- Industry Price/ Going-rate pricing – Sale what others sale
- Cost plus system/Mark-up pricing – cost of goods + Margin
- Price less Discount
- Promo Price/Pricing for Market Penetration
- Break-even pricing
- Target return pricing
- Early cash recovery pricing
- Perceived value pricing
- Sealed-bid pricing
- Pricing at a Premium – set costs higher than competitors
- Economy Pricing – to attract most price-conscious of consumers.
- Price Skimming. – setting introductory phase at high prises to lower afterwards.
- Psychology Pricing – pricing techniques that deals on buyers emotional levels.
- Bundle Pricing – multiple products for lower rate than individual products.
At this point, you can now write your business plan, otherwise, contact us.
So, lets talk!:
From all we did above, you would agree with me that this is the technical segment of your business plan. Truly, it’s better done by professionals like us. I speak from experience. As an Economist turned Chartered Accountant, I shall tell you the truth. But my promise to you is that no matter the level of technicality, my firm with my team will get it right for you.
Call us on +234 8034347851 or mail us via [email protected]
Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
