Lancashire business engagement workshop from Lancaster University Management School.

Pricing with Purpose - Business Excellence

Learn how to effectively implement and communicate new optimum pricing across your markets through a short two-day programme,

SME delegates during a programme workshop.

About the Programme

This is a historic programme that was funded by ERDF between 2014 and 2020. For further information about other business development opportunities please get in touch with us.

High inflation, the cost-of-living crisis and unreliable supply chains are all pushing Lancashire businesses into ‘survival mode’.

Price optimisation is most easily implemented in high inflation and volatile environments, and it is more than likely that businesses will be increasing their prices so learning how to do so confidently, efficiently and effectively couldn’t be more important.

Pricing is the third business skill; first, create a great product, second sell that product brilliantly, and third price it superbly.

This programme is fully-funded and eligible for small and medium-sized (SME) businesses based in Lancashire.

Programme Elements

This face-to-face programme will include a workshop on two separate days, purposefully designed to be short, practical and impactful and designed to tackle issues that often present barriers to business growth.

These workshops are delivered in a trusted peer-learning environment and designed to be highly interactive and create meaningful relationships to support you in moving your business forward.

The third business skill

Delegates will be introduced to the history of pricing and review the current climate and what this means for businesses, review barriers, how to deliver high impact and the most effective strategies for productivity and profitability.

Best practice laid bare

Explore the different types of pricing strategies, what strategies can work the best for your business and how they tie back to your business model, purpose and financial targets. Delegates will analyse current processes and explore accountability.

Marketing and implementation

Look at the psychology of pricing and using it to effectively communicate, market and implement new optimum pricing strategies across your markets.

How ‘Pricing with Purpose’ boosted growth at hair salon startup

A hair salon is on course for a new period of growth while weathering the impact of inflation after participating in a short, focussed programme by Lancaster University Management School.

How Pricing with Purpose has transformed Lancashire Business View’s confidence in costing

Setting prices can seem like a dark art, particularly in the service sector where there are fewer direct material costs to mark up. It’s a challenge that Stephen Bolton, commercial director at Lancaster Business View, knows well.

Blog

Helping small businesses in Lancashire Price with Purpose, through funded LUMS support

This is the time to take stock and reconnect with the different elements in your business that can be influenced and controlled. Knowing your organisation, your staff and your customers inside and out could make all the difference.

Blog

Pricing is an essential business skill – so why are so many of us afraid to increase our prices?

We are entering a new normal (yes, another one). So, if you’re in business, there is no shying away from it. It’s more than likely that you’ll soon be increasing cost and you need to learn how to confidently, efficiently and effectively do that.

How a Lancashire-based physiotherapy company has boosted business by raising prices with help from an online LUMS programme

“It became suddenly clear to me that our strategy – to price ourselves extremely competitively – was not serving our business and might even be devaluing it. I knew there and then that if we wanted the business to grow, we had to charge more".

"Our long-standing relationship with SMEs means we get to hear first-hand the pressing issues that are most affecting firms, and now most businesses are back operating ‘as normal’, some are facing the challenges of changing consumer demands, issues with supply and rising costs – all of which can present barriers for businesses hungry for growth.” Alex Errington, Senior Project Manager

The Benefits

Pricing with Purpose workshops are designed to help Lancashire based SMEs to take the time out of their business to work on the business and to build a business that focusses on both profit and purpose. Two days of delivery enables high business impact and will enable you to take your business to the next level. Innovate, develop & grow.

Costs & Apply

This programme is fully funded and available to businesses which are eligible under the European Regional Development Fund (ERDF) criteria, as follows:

Based in Lancashire
Employ fewer than 250 full-time equivalent (FTE) employees
Annual turnover of less than €50 million (or the equivalent in GBP)
Received less than €200,000 of de minimis State Aid in the last 3 years

Find out more about how and why Lancaster University and our funding bodies holds your information.