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Costing and Pricing Training Overview
Costing and Pricing Training Course Outline
Module 1: Introduction to Costing
- Costing
- Concepts of Costing with Example
- Variable and Fixed Costs
Module 2: Introduction to Pricing
- Pricing
- Concepts of Pricing
- Methods
Module 3: Costing and Pricing Procedures
- Identifying Costs
- Price-Quality Strategy
- Setting Pricing Policy
Module 4: Price-Reaction Programme
- Working of Price-Reaction Programme
Module 5: Break-Even Point Formula
- Introduction
- Calculation
- Components
- Break-Even Point with Graph
- How to Use a Break-Even Analysis?
- Limitations
Module 6: Strategies of Pricing
- Demand Pricing
- Competitive Pricing
- Cost-Plus Pricing
- Penetration Pricing
- Price Skimming
- Economy Pricing
- Psychological Pricing
- Discount Pricing
- Geographic Pricing
- Price Bundling
Module 7: Absorption Costing
- Overview
- Components of Absorption Costing
- Absorption Costing Formula Using Excel
- Absorption Costing Vs Variable Costing
- Advantages
Who should attend this Costing and Pricing Training Course?
The Costing and Pricing Training Course is tailored for professionals who are involved in financial decision-making, product pricing, cost analysis, and ensuring overall business profitability. This course can benefit a wide range of professionals, including:
- Finance Managers
- Product Managers
- Entrepreneurs and Business Owners
- Sales and Marketing Managers
- Operations Managers
- Procurement and Supply Chain Managers
- Consultants
Prerequisites of the Costing and Pricing Training Course
There are no formal prerequisites for this Costing and Pricing Training Course.
Costing and Pricing Training Course Overview
Costing and Pricing are fundamental aspects of financial projection and programme management. These processes are intricately connected, with price analysis focusing on vendor unit prices, while cost analysis encompasses the cost of delivering the item to the vendor, ultimately defining the suitability of the quoted price. Understanding these concepts is pivotal for professionals seeking to make informed financial decisions.
Proficiency in costing and pricing is essential for a wide range of professionals, including Project Managers, Financial Analysts, Procurement Specialists, and Business Leaders. It enables them to make strategic decisions, set competitive prices, and assess the feasibility of project costs. This knowledge is particularly valuable for individuals responsible for budgeting and financial planning within their organisations.
The Knowledge Academy's 1-day Costing and Pricing Training provides delegates with a comprehensive understanding of the various aspects of costing and pricing in business. Delegates will gain insights into different costing and pricing strategies, including setting price policies and utilising essential formulas like the Break-Even Point Formula and Absorption Costing.
Course Objectives
- To comprehend the principles of costing and pricing in financial analysis
- To gain practical knowledge of costing and pricing strategies
- To learn how to set effective price policies
- To master essential costing and pricing formulas
- To evaluate and analyse price history and projections
- To assess the cost of resources and labour in financial planning
Upon completing this course, delegates will be well-equipped to make informed financial decisions, set competitive prices, and assess the feasibility of project costs. They will have a solid understanding of costing and pricing strategies, which will empower them to excel in their roles and contribute to effective financial planning and budget management within their organisations.
What’s included in this Costing and Pricing Training Course?
- World-Class Training Sessions from Experienced Instructors
- Costing and Pricing Certificate
- Digital Delegate Pack
Why choose us
Ways to take this course
Experience live, interactive learning from home with The Knowledge Academy's Online Instructor-led Costing and Pricing Training. Engage directly with expert instructors, mirroring the classroom schedule for a comprehensive learning journey. Enjoy the convenience of virtual learning without compromising on the quality of interaction.
Live classes
Join a scheduled class with a live instructor and other delegates.
Interactive
Engage in activities, and communicate with your trainer and peers.
Global Pool of the Best Trainers
We handpick from a global pool of expert trainers for our Online Instructor-led courses.
Expertise
With 10+ years of quality, instructor-led training, we equip professionals with lasting skills for success.
Global Reach
With classes running in all timezones, access any of our courses and course material from anywhere, anytime.
Unlock your potential with The Knowledge Academy's Costing and Pricing Training, accessible anytime, anywhere on any device. Enjoy 90 days of online course access, extendable upon request, and benefit from the support of our expert trainers. Elevate your skills at your own pace with our Online Self-paced sessions.
Experience the most sought-after learning style with The Knowledge Academy's Costing and Pricing Training. Available in 490+ locations across 190+ countries, our hand-picked Classroom venues offer an invaluable human touch. Immerse yourself in a comprehensive, interactive experience with our expert-led Costing and Pricing Training sessions.
Highly experienced trainers
Boost your skills with our expert trainers, boasting 10+ years of real-world experience, ensuring an engaging and informative training experience
State of the art training venues
We only use the highest standard of learning facilities to make sure your experience is as comfortable and distraction-free as possible
Small class sizes
Our Classroom courses with limited class sizes foster discussions and provide a personalised, interactive learning environment
Great value for money
Achieve certification without breaking the bank. Find a lower price elsewhere? We'll match it to guarantee you the best value
Streamline large-scale training requirements with The Knowledge Academy’s In-house/Onsite Costing and Pricing Training at your business premises. Experience expert-led classroom learning from the comfort of your workplace and engage professional development.
Tailored learning experience
Leverage benefits offered from a certification that fits your unique business or project needs
Maximise your training budget
Cut unnecessary costs and focus your entire budget on what really matters, the training.
Team building opportunity
Our Costing and Pricing Training offers a unique chance for your team to bond and engage in discussions, enriching the learning experience beyond traditional classroom settings
Monitor employees progress
The course know-how will help you track and evaluate your employees' progression and performance with relative ease
What our customers are saying
Costing and Pricing Training FAQs
Costing and Pricing involves calculating the cost of producing goods or services and determining optimal pricing strategies to ensure profitability. It is a crucial aspect of financial management, guiding how businesses set prices, manage production costs, and remain competitive in the market.
This training course equips delegates with the skills to develop accurate cost analyses and implement effective pricing strategies. It helps professionals make informed financial decisions, improve profit margins, and ensure competitive pricing in their industry, ultimately leading to sustainable business growth.
While there are no formal prerequisites, a background in business, finance, or accounting is recommended to maximise understanding. Additionally, basic knowledge of financial terms and concepts will enhance the learning experience.
This course is designed for Finance Professionals, Business Managers, Accountants, Entrepreneurs, and those responsible for setting prices or managing budgets. It is also suitable for anyone interested in understanding cost control and pricing strategies.
Yes, 24/7 support is provided to assist participants with any questions or technical issues they may encounter during the course. This ensures a smooth learning process and helps learners stay on track.
This course comes with a 1-day training session from experienced trainers, a digital delegate pack, and a certificate upon completion of the course.
The duration of this Costing and Pricing Certification Training Course spans 1 day.
Course confirmation details are provided within 24 to 48 hours of registration.
Participants will learn how to analyse costs, develop pricing strategies, understand market dynamics, optimise profit margins, and apply cost management techniques. The course also covers how to set competitive prices while considering internal costs and external market factors.
Yes, self-paced options are available, allowing participants to complete the course at their own pace. This flexibility is ideal for busy professionals or those who prefer learning at their own speed.
Yes, corporate training is offered for businesses seeking to enhance their teams’ skills in cost management and pricing strategies. The training can be tailored to the specific needs and goals of the organisation.
The benefits include learning how to develop effective pricing models, improving financial decision-making, optimising profitability, and gaining a competitive edge in the marketplace. Participants will also enhance their ability to manage costs and maximise returns.
The course is designed for both beginners and professionals with intermediate knowledge of finance. More advanced topics can be explored by those with prior experience in Costing and Pricing or business management.
Yes, a certificate of completion will be awarded to participants who successfully finish the course. This certification validates the skills and knowledge gained during the training and can be a valuable asset in professional development.
If you encounter access issues, you should contact The Knowledge Academy's customer support team. They will assist with technical difficulties or provide information on how to resolve access problems.
Yes, real-world case studies and practical examples are included to help participants apply the concepts learned to real business scenarios. This ensures that learners can directly implement the strategies in their own work environment.
Yes, the course may cover industry-specific strategies, allowing participants to focus on the unique challenges and opportunities in their respective industries. This ensures the training is relevant and applicable to various business contexts.
The Knowledge Academy in the United Kingdom stands out as a prestigious training provider known for its extensive course offerings, expert instructors, adaptable learning formats, and industry recognition. It's a dependable option for those seeking this Costing & Pricing Course.
The training fees for Costing and Pricing Trainingin the United Kingdom starts from £995
Which is the best training institute/provider of Costing and Pricing Training in the United Kingdom?
The Knowledge Academy is the Leading global training provider for Costing and Pricing Training.
Please see our Management Courses courses available in the United Kingdom
Why choose us
Best price in the industry
You won't find better value in the marketplace. If you do find a lower price, we will beat it.
Many delivery methods
Flexible delivery methods are available depending on your learning style.
High quality resources
Resources are included for a comprehensive learning experience.
"Really good course and well organised. Trainer was great with a sense of humour - his experience allowed a free flowing course, structured to help you gain as much information & relevant experience whilst helping prepare you for the exam"
Joshua Davies, Thames Water
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