The Science and Black Art of Product Pricing
The Pandemic is rolling into its 12th month and we’ve all seen life – and business – change around us. It has also given us the opportunity to contemplate new adventures, new projects, new businesses, and … new food products to make and sell.
In this webinar, Gail Nickel-Kailing, an experienced food marketing professional, gives a strategic business approach to pricing new products and new variations on current products. Gail explains how to price strategically to offer your product at a logical and competitive price point. By working through a detailed worksheet, you’ll analyze all the “total cost” of producing your food product: ingredients, labor, packaging, overhead, and margins (your profit, a distributor’s profit, and the retailer’s profit).
While this is not intended to be a product marketing workshop, Gail also touches on product positioning, messaging, and labeling as she goes along. Finally, exciting new opportunities for producers to get involved with MT Harvest of the Month are shared.
Resources to use to help with your product pricing:
A Markup and Margin Table.
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