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Module 7. Costing & Pricing

  • About This Module
  • Setting a Price
  • Step 1: Work out your ‘Fixed Costs’
  • Step 2: Work out your ‘Variable Costs’
  • Step 3: Calculate your total costs
  • Step 4: Set your price
  • Top tips for pricing your product / service
  • Top 5 pricing mistakes to avoid

Selling

Step 3: Calculate your total costs

Now that you’ve worked out your ‘Fixed Cost Per Unit’ and your ‘Variable Cost Per Unit’ – work out your ‘Total Cost Per Unit’:

FIXED COST PER UNIT + VARIABLE COST PER UNIT = TOTAL COST PER UNIT

 

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Module Documents

  • Calculate your overall fixed costs
  • Calculate your ‘Fixed Cost Per Unit’
  • Calculate your overall variable costs
  • Calculate your 'variable costs per unit'
  • Work out your 'Total Cost Per Unit'
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MENU
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    • Phase 1 – Ideas
      • 1. Do You Have What It Takes?
        • About this Module
        • What type of business person am I?
        • What is your attitude to risk?
        • Top Tips
      • 2. The Big Business Idea
        • About this Module
        • What’s an innovative business idea?
        • Examples of Innovative Enterprises
        • Help me find a business idea
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        • Interactive Exercises for Creativity
        • Protecting Your Ideas
        • Complete this part of your business report
      • 3. Your Team
        • About this Module
        • Are you a team player?
        • What makes a good team?
        • Choosing roles in your student enterprise
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    • Phase 2 – Starting
      • 4. Market Research
        • What is Market Research?
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        • Market Research Activities You Can Do
        • Questionnaires
        • Designing Your Questionnaire
        • SWOT Analysis
      • 5. Production
        • About This Module (production)
        • 5 steps to production success
        • The importance of stock control
        • Top Production Tips!
      • 6. Marketing
        • About this Module (marketing)
        • What is marketing?
        • What is the ‘Marketing Mix?
        • Using Social Media for Marketing
        • Top marketing tips
    • Phase 3 – Selling
      • 7. Costing & Pricing
        • About This Module
        • Setting a Price
        • Step 1: Work out your ‘Fixed Costs’
        • Step 2: Work out your ‘Variable Costs’
        • Step 3: Calculate your total costs
        • Step 4: Set your price
        • Top tips for pricing your product / service
        • Top 5 pricing mistakes to avoid
      • 8: Finance & book keeping
        • About this Module
        • Setting Your Budget
        • Managing your books
        • Preparing your accounts
        • Top Mistakes to Avoid
        • How to prepare a cash-flow forecast
        • Sourcing start-up finance
    • Phase 4 – Competing
      • 9. What Did You Learn?
        • About this Module
        • What Did You Learn?
      • 10: Getting Ready For Judging
        • About this Module
        • Writing your business report
        • Tips For Writing Your Business Report
        • What makes a good display stand?
        • Ideas for decorating your display stand
        • Importance of the interview
        • Top 5 tips for the judges interview
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