Pricing has a direct effect on the success of your business. It is the unit metric through which your revenue is earmarked.

Before setting the price for your product and/or service, you have to consider multiple factors in your business and industry- cost of production, market price, profit margin among other things.

During this masterclass, we'll deep dive into 'how to determine your prices' for your products or services irrespective of the industry you fall into.

We'll be drawing lessons from James Kamau, who is an experienced commercial planner at Jumia Kenya. He is involved in defining and executing the commercial strategy of Jumia - ensuring that Jumia have the right products at the right price and that products are showcased in the right way. (This means working with Jumia's Key Account department to ensure the right assortment at the right price, working with marketing to ensure the offerings are showcased in the best way, working with logistics teams to ensure that the products ordered reach the final destination)

Previously he worked for Mckinsey & Company based out of Nairobi, where he was involved in strategy development, performance transformations, design and operational optimization across several fields - Agriculture, Power & Banking across Africa with both private and public sector clients

Some of the questions we will aim to answer include:

• Which pricing methodology works for your business?
• Should every pricing be geared towards profit maximization?

Sub-topics include:

1. Pricing 101: Definition and objectives of pricing, Demand Theory and impact on pricing, price elasticity.

2. How to set prices (mechanisms for price determination for goods & services).

3. Advanced Tips - Pricing Psychology.

4. Difference in pricing for online vs offline business.

5. Jumia: How we think about pricing.

Who Should Attend?

1. Startups/SMEs figuring out, questioning or reviewing their pricing strategy.

2. Independent business people/curious minds interested in expanding their knowledge scope on the link between pricing and sales.

Logic behind the masterclass

The reason Jumia has partnered with Mettā in these masterclasses is due to the realization that there is a gap in corporates giving tangible learning experience to startup founders and employees. This leads to a lack of sufficient middle-level managers, lack of equal access to funding and lack of practical problem-solving skills. These masterclasses will help provide technical resources for mentorship, guidance, and support to Mettā’s community and the start-up ecosystem at large.

Please note:

1. Please RSVP to secure your spot. Doors open at 9.30 am.

2. Video and Audio content will be recorded by the Mettā team

3. Please ensure you bring your national ID/Passport to ensure easy & guaranteed passage at the security desks.

4. Parking charges apply.