Tracks: Arborists, Business Development, Designer, Growers, Irrigation, Landscape, Pest/Disease, Retail, Turf Management
Determining a price for green industry products that maximizes revenue/profit is an ongoing process that challenges even the best business managers. The first step in developing a pricing strategy is to understand the buying habits of your customers. You can use that data to determine a product's price elasticity of demand, which is a measure of how price changes affect consumers' willingness to buy a product. Couple that with an accurate knowledge of costs of production to serve as a price floor and firms can eliminate bad pricing decisions! Room 164
CEUs Available: 1 TNLA; 1 TEA - CPE