Mastering Target Costing: Strategies for Competitive Success

In this episode of "Business Strategies Unpacked," we dive into the concept of target costing, a transformative approach to cost management that prioritizes market-driven pricing. Join us as we explore GWL Inc.’s journey in the competitive DIY paint market, detailing how they harnessed target costing to align profitability with customer expectations. From setting market prices to overcoming cost gaps, discover the key benefits and challenges of this strategy, and learn how it can empower your business to thrive in today’s dynamic landscape.