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Pricing and Credit Mastery

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Pricing and Credit Mastery

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About this activity

Master pricing and credit decisions in small business.

Created by

Vivian Barney
Vivian Barney
United States

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Pricing and Credit Mastery
 

Pricing and Credit MasteryOnline version

Master pricing and credit decisions in small business.

by Vivian Barney
1

Introduction to Pricing and Credit

Pricing and credit decisions shape the relationship with customers. Value, price, and credit terms must align with demand and business goals.

Source: Longenecker et al., Small Business Management, Ch. 16

2

Pricing Starts with Customers

Elasticity of demand measures how price changes affect quantity demanded. Elastic = big change; inelastic = small change.

Source: Longenecker et al., Ch. 16

3

Cost, Demand, and Competitive Advantage

Cost analysis identifies minimum acceptable price, but demand factors and competitive advantage influence final pricing decisions.

Source: Longenecker et al., Ch. 16

4

Break-Even Analysis

Break-even point is where total sales revenue equals total costs. Useful to compare price scenarios and forecasts.

Source: Longenecker et al., 16-2a

5

Break-Even Graph and Margin

The graph shows fixed costs, variable costs, and contribution margin. Higher fixed costs raise the break-even volume.

Source: Longenecker et al., 16-2a

6

Markup Pricing

Markup pricing adds a percentage to cost to cover expenses, desired profit, and potential discounts. Margin varies by base (cost or selling price).

Source: Longenecker et al., 16-2b

7

Pricing Strategies Overview

Strategies include penetration (low price for market share) and price skimming (high initial price). Also consider price lining and option pricing.

Source: Longenecker et al., 16-3

8

Price Lining and Optional Pricing

Price lining sets distinct price levels for product ranges. Optional pricing adds accessories to increase total spend.

Source: Longenecker et al., 16-3e, 16-3f

9

Credit Benefits and the Five Cs

Benefits of credit include working capital access and sales growth for buyers and sellers. The five Cs assess risk: Character, Capacity, Capital, Collateral, Conditions.

Source: Longenecker et al., 16-4a, 16-5a

10

Credit Management Essentials

Managing credit involves evaluating applicants, billing, and collection procedures. Use the five Cs to gauge creditworthiness and repayment risk.

Source: Longenecker et al., 16-5
 
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