Pricing Strategies: Measuring, Capturing, and Retaining Value
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Studies show that pricing is the most critical profit driver in business, but it is also one of the least understood. Many executives with pricing responsibilities rely on instinct or a simple cost-plus model to set prices, ignoring the complexities inherent in price strategies — and they fail to capture maximum value.
Pricing Strategies: Measuring, Capturing, and Retaining Value is the price strategy program that will change the way you think about pricing. It demonstrates step-by-step processes for developing various strategies and how these approaches can be applied to specific business challenges. It gives participants the confidence to choose the right pricing strategy (and not the one “right price”) and make a strong case for their decision within the organization.
Program Highlights & Benefits
In Pricing Strategies: Measuring, Capturing, and Retaining Value, you will:
- Think more expansively about pricing
- Set prices to maximize profit, not just margin or market share
- Use pricing to communicate value to your customers
- Gain organizational support for your pricing decisions
Experience & Impact
This highly practical program dispels simplistic thinking about what price is and how to manage it. You will learn tools and techniques based on the latest in academic theory, consumer psychology, and real-world research (none of which require complex mathematics). Wharton’s global pricing experts will show you how to apply your new knowledge to real business challenges and help you develop new ways to drive performance and execute strategic pricing plans.
Curriculum from Wharton's MBA program offers a rigorous framework that can be put to use immediately. You will learn best practices from many industries and benefit from the experiences and perspectives of a talented group of peers. You will leave knowing how to make better pricing decisions and how to defend those decisions with confidence.
Session topics include:
- Analytical Foundations for Pricing Decisions
- Lifetime Value of the Customer
- Smart Value Pricing in the Age of Big Data
- Capturing Value through Regression Analysis
- Pricing a New Product
- Using Conjoint Analysis to Measure Price Sensitivity
- Psychological Aspects of Pricing
- Managing Price Competition
- Ethical Aspects of Pricing and Price Communication
- Channel Pricing in an Omni-Channel World
- Implementing Pricing Strategy from Start to Finish
Who should attend
Pricing Strategies is essential for:
- Executives charged with ensuring overall company profitability
- Mid- to senior-level executives in product development, marketing, or accounting and finance
- Those who are responsible for designing, evaluating, and implementing pricing strategies
- Entrepreneurs who are working to develop a business model and calculate the value of their product or service
Fluency in English, written and spoken, is required for participation in Wharton executive education programs unless otherwise indicated.