Pricing for Profitable Decision-Making
Pricing is one of the most important levers in the business with a direct impact on the bottom line. Understanding the growing power of value-based pricing is critical to business success. This course will delve into the psychology of pricing strategies, while considering the perspective of your customer, competition, and company.
About This Program
Pricing is becoming an increasingly important tool to businesses that have the insight and sophistication to leverage it correctly. As businesses are better able to segment the market, they're positioned to increase the sophistication of their pricing efforts and deliver the right price to the right customer.
While pricing has always been an important component of an organization's bottom line, there's new opportunity for pricing to deliver tremendous value. This course will arm participants with the tools they need to price for profitability and is designed for any professional who wants to have an impact on the bottom line.
This course helps participants understand value-based pricing and the role pricing plays in their organization's marketing strategy and beyond. Participants will adopt a holistic approach to pricing and discover the tools and skills to be able to make the right pricing decisions for the firm based on its goals.
This course is highly interactive and includes case studies, individual readings, and group discussions. Participants will explore conceptual frameworks and practical applications to analyze pricing from an economic and psychological perspective. Using a template for pricing decisions and practical guidance to formulate strategy, they’ll leave this class prepared to identify the most profitable pricing opportunities and determine pricing sensitivities.
- Vice presidents
- Marketing, pricing, sales, or finance managers
- Market researchers
- Brand and business developers
- Learn how to build strategic pricing capabilities within your company
- Develop methods to identify the most profitable pricing opportunities
- Examine current pricing practices with the direction of pricing experts
- Effectively fight price wars
Additional Course Details
Types of Value and Case Study Discussion
Elasticity, Clout, and Vulnerability
Course Review Activities