Pricing is a crucial element to consider when exporting services. The Barbados Coalition of Service Industries’ (BCSI) Service Exporters Certificate of Excellence Program for 2010 will give you sound words of advice on this component. But as we eagerly await the workshop here are a few tips to get you thinking!

You should note that prices must be high enough to generate profits but yet remain reasonable enough for your service to stay competitive. Consider these basics when setting prices: costs, market demand and competition. Though these factors should be considered whether setting a price in the domestic market or one overseas, there are some additional costs factors involved in providing a service abroad.

COMMON PRICING MISTAKES:

Do not neglect these cost factors when setting a price for your service abroad.

• Potential currency fluctuations
• Hidden travel and communication costs
• Translation and interpreting costs
• International … (You will have to attend the workshop to learn more about the others)

After thinking on these things you can then begin to consider a price for your service in a foreign market. In doing so, take into account what your customers would be expecting your service to cost, your breakeven point and the profits you would like to make. Remember, there is no single strategy for your company when pricing, the best solution may be to draw on a mix of options depending on the market.

Now that your appetite has been stimulated, don’t think twice about joining us at this year’s SECEP workshop. Participants will not only receive information on pricing services, but will benefit from advice on demand and capacity as well as information on services marketing strategies and so much more.

The workshop is scheduled to take place from July 28-29 and will be facilitated by Dr.Priscilla Glidden and Dr. Joby John who will seek to empower members with new information under the theme Challenges and Strategies in Marketing Services for Export. Register now for an early bird special of $395!

For further information on the workshops contact the BCSI Secretariat at 429- 5357 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .