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Opleiding: The Strategy and Tactics of Pricing

Learning purpose

 

 

Target audience

This program has been designed for business executives responsible for designing, evaluating, and implementing pricing strategies or for executives charged with ensuring the overall profitability of the firm in B2B, consumer, or service markets. In particular, mid- to senior-level executives in product development, marketing, or accounting and finance will benefit from this program.

 

The program is targeted at, but not limited to:

 

• General Managers
• Senior-level marketing and sales executives
• Pricing directors, managers, and analysts
• Product planners and product managers
• Controllers and CFOs

 

Programme

 

The art of pricing

 

 

Setting the right price is an art, and doing so across multiple channels, fragmented markets and small consumer segments is a challenging task. These sessions will examine the best pricing strategies such as penetration or skim pricing to achieve profitable growth.

 

Setting the right price across a product or service portfolio

 

 

These sessions will introduce value-based pricing approaches such as conjoint analysis wich examines the value that a firm's offering creates for the customer

 

Developing a pricing structure to optimize profits

 

 

Companies typically sell their offerings to multiple customers with differing needs and value perceptions. This allows firms to charge different prices to different customers. These sessions will explore the different means of price discrimination such as product bundling or dynamic pricing.

 

Fighting a price war and how to prevent it

 

 

Increasingly, price is the weapon of choice – and frequently the skirmishing degenerates into a price war. These sessions will therefore indentify means of preventing a price war and discuss the advantages and disadvantages of price and non-price tactics when facing them.

 

Managing a customer’s price perceptions

 

 

For most of the products and services in the market, consumers don’t have an accurate sense of what the price should be. They rely on the company to tell them if they're getting a good price. In these sessions we will review the most common pricing cues firms use, and will reveal some surprising facts about how -and how well- those cues work.

 

PROGRAM OBJECTIVES

The Strategy and Tactics of Pricing is an interactive workshop which concentrates on how firms attempt to capture value, as well as profits, in the revenues they earn.

 

The objective of this three day international executive program is to assist you in developing an in-depth knowledge related to the formulation of pricing strategies for new and existing products and services. You will examine the process of making pricing decisions and explore innovative approaches for price setting. Additional focus will be made on pricing dynamics and the reaction to, and from, competitors at the firm and product level.

 

Participants will develop a sound understanding of how to:

• Evaluate the real financial implications of pricing decisions.
• Use pricing strategically to guide a firm to long-term profitability, rather than reactively to solve short-term problems.
• Acquire the skills that will enable you to effectively develop and implement pricing strategies.
• Create a template that provides structure for identifying the most profitable price.
• Understand a customer’s willingness to pay and its relationship to pricing strategies.
• Integrate pricing with other elements of the marketing mix.
• Determine when it makes sense to compete on price and when it does not.
• Evaluate which value-added alternatives to price competition are appropriate for your business
• Change customers’ price perception to capture more value.

 

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