Product Pricing Workshops in Nicaragua



Product
pricing is a vital tool to put a fair monetary value on products. F2F volunteer, Lynda Swenson, recently traveled to Nicaragua to equip small farm owners with
the financial literacy tools to be competitive in local and national markets. The primary
host of this assignment was the Fabretto Foundation. Fabretto connects communities
in disadvantaged areas around Nicaragua with resources so that they can reach
their full potential and improve their future opportunities. Education and
nutritional programs are their primary aims of the organization. One such program is an innovative
high school program called SAT (Tutorial Learning System) in rural and remote
communities that tailors to young people and emphasizes hands on learning
approach.









Lynda
provided training to Fabretto staff, tutors,
and students on evaluating and setting competitive prices for the agricultural
crops and value-added products produced by the organization and the youth in the area. In the workshops and trainings, Lynda covered topics like cash
journals, income statements, balance sheets, as well as various pricing and
marketing concepts. Lynda also taught participants about pro-forma income
statement that she created from a series of transactions. She helped the workshop participants create pro- forma balance sheets for several products to
help participants understand how to set competitive prices and promote their products
in local and national marketplaces.







One of the
main goals of the project was to focus on women and youth in agricultural
projects so that they can operate their own cooperatives when equipped with
proper business and administration skills and technologies.  Below, is a picture of women with their handmade baskets as they learn from Lynda pricing strategies to be competitive in the local market. 










Lynda has
been completed over 70 similar international projects in Africa and the Middle East. She is extremely
knowledgeable on how to teach methods to analyze the supply and demand for products, and determining production, transportation, and marketing costs. Through her background, Lynda was able to equip her workshop participants with effective pricing strategies that will help them improve their monetary gains. 



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