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About the course
Pricing is one of the most critical profit drivers of a company, but it is also one of the least understood. Many executives with pricing responsibilities rely on gut feeling, questionable assumptions, experiments or a simple cost-plus model to set prices. As a consequence, you don’t capture a significant amount of the value you create and you leave money on the table. This highly-interactive programme helps participants design and implement a well-crafted pricing strategy to gain more value from your customers.
During your 3-days on campus, you will translate the conceptual frameworks to case studies, benefit from the experiences and perspectives of a talented group of peers, and define the scope of your in-company project. The goal of this project is for you to apply your key learnings to your own business, so that you have a better pricing strategy and concrete action plan, which will help you capture more value. A number of months after the programme, we invite you back to Vlerick Business School for a sounding-board session with your peers and Prof Tackx, in which you will receive feedback and input on your in-company project.
WHY THIS PROGRAMME?
What is the added value of following the programme 'Pricing'?
By participating in this programme, you will:
- Define the right pricing strategy, and make a strong case for your decision within your organisation.
- Identify the crucial drivers that create profitable pricing opportunities.
- Formulate an answer to your own pricing challenge (via your in-company project).
The programme 'Pricing' consists of 6 modules:
Module 1: The principles of value-based pricing
- What are the most used pricing strategies & what makes value-based pricing different?
- What is value-based pricing and how do you start doing it?
- How do you achieve prices that reflect the true value of your products?
- Applying the value-based pricing methodology.
Module 2: Pricing from a financial perspective: identifying, associating and applying the drivers that have an impact on pricing
- Explore the real financial implications of pricing decisions, and when it makes sense to compete on price and when it doesn't.
- Through greater understanding of the cost drivers and the types of customers you have (high vs. low cost to serve customers), you will understand when offering a discount is a smart idea — and when premium pricing is the right strategy. What impacts the customer lifetime value & how can you increase it?
Module 3: Taking the right pricing decisions: using data and market research methods to feed your decision-making process
- Companies who are using an analytics-driven approach to pricing significantly out-perform their competitors. In this module, you will learn how to turn data into insights that drive improved performance and profitable growth for your company.
- Case study: designing the price sensitivity curve and defining the ‘right’ price point
Module 4: Pricing from a market perspective: taking into account market drivers that have an impact on pricing
- Identifying the market drivers that have an impact on pricing: customer behaviour, CSR aspects, competition, substitutes…
- Associating the market drivers with the tactics
- Applying the market drivers to your organisation
- International pricing differences
Module 5: Pricing from an entrepreneurial perspective: examining the pricing strategies of fast-growing companies & applying these strategies to established companies
What can established companies learn from fast-growing companies (& vice versa) in terms of revenue models?
How can you apply a number of these revenue models to your business?
Case study: Edgard & Cooper
- Why should you (not) differ your pricing strategy when you go to the market via different channels (direct / third parties)?
- What’s the impact on pricing when you sell in different geographical regions?
Module 6: Pricing from an organisational perspective
How do you structure the pricing process internally?
Who should attend
The programme 'Pricing' is targeted towards:
- Professionals who are responsible for pricing decisions and/or revenue management
- Middle-to-top-level managers of Marketing, Finance, Sales and Business Development, who are facing important pricing challenges, like failing to capture a fair share of the value they create in the marketplace
- Managing directors of smaller companies, and entrepreneurs who are facing similar challenges
- Executives of all kinds of companies; from startups to established companies, across industries
Trust the experts
Filip shows you how the finance function can act as a real business partner for your organisation by using accounting information for decision making and strategy execution. Filip Roodhooft obtained a PhD in Accounting at University of Antwerp in 1994. He is now Full Professor of Accounting at K...
Miguel is focusing on entrepreneurship and entrepreneurship education. He is passionate about the process and people behind new venture ideas.Miguel Meuleman studies how entrepreneurs and intrapreneurs successfully identify and exploit new opportunities. He looks at different aspects of the new v...
Philippe Baecke’s research interest mainly lies at Customer Relationship Management, Business analytics and Big Data. More specifically he focuses on improving analytical CRM models by creatively incorporating new data types, such as geographical and social network information. Further he also ha...
Koen Tackx is a Professor of Management Practice at Vlerick Business School in strategy and marketing. His industry focus includes energy, financial services and telecommunications. After a corporate career of 20 years, he graduated as a PhD in 2015 on a dissertation titled “fair process perspect...