The Cooperatives and Livelihood Development Department of Calamba City, in collaboration with the Department of Trade and Industry – Laguna Provincial Office, hosted an essential seminar on Basic Costing and Pricing and Consumer Education on August 22, 2024. This event was organized through Negosyo Center Cavinti and Negosyo Center Pangil, attracting a diverse group of potential and existing MSMEs seeking to deepen their business knowledge.

The seminar aimed to underscore the ultimate importance of accurate costing and pricing strategies for business success. Participants were introduced to the various factors that influence the pricing of products and services. They explored different pricing strategies and learned about the pricing strategy matrix, which provides a framework for making informed pricing decisions.

A comprehensive step-by-step tutorial was provided, focusing on the computation of manufacturing and operational costs. This segment also included a detailed analysis of profitability, essential for understanding how to balance costs with revenue. Attendees learned to apply these concepts to their own businesses, enhancing their ability to make strategic pricing decisions.

One of the seminar’s highlights was an interactive group activity where participants were divided into teams. Each team proposed a specific task related to costing and pricing, which they then worked on and presented to the group. This practical exercise allowed attendees to delve into real-world scenarios, applying theoretical knowledge to solve actual business challenges.

The group presentations were a critical component of the seminar, providing attendees with valuable feedback and new perspectives on their proposed strategies. This interactive approach not only reinforced the seminar’s teachings but also fostered collaboration and peer learning among participants.

Throughout the seminar, the emphasis was on practical application and hands-on learning. By working through real-life examples, attendees gained a deeper understanding of how to manage and optimize their pricing strategies effectively. This approach ensured that participants left with actionable insights that could be directly applied to their businesses.

The seminar also featured discussions on the importance of continuous education in the ever-evolving business landscape. Attendees were encouraged to stay informed about industry trends and best practices to maintain a competitive edge.

Overall, the event was a significant success, providing valuable tools and knowledge to enhance the pricing and costing strategies of local MSMEs. The collaborative effort between Calamba City and the Department of Trade and Industry highlights a commitment to supporting and developing a vibrant business community.

The feedback from participants was overwhelmingly positive, reflecting the seminar’s impact on their business practices. Many expressed appreciation for the hands-on activities and practical insights gained during the event.

The seminar highlights the importance of such educational initiatives in fostering business growth and sustainability. The Cooperatives and Livelihood Development Department and the Department of Trade and Industry remain dedicated to providing resources and support to local businesses. (JCMDrueco, DTI-Laguna) ♦

Date of release: 29 August 2024

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