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Explore the key principles and practices of strategic pricing, and the challenges of formulating and implementing a pricing plan. Learn how to conduct an effective stakeholder analysis and how to position your products or services.
Why This Program?
This program takes a comprehensive view of "the total project" from the organizational and planning stages to the actual implementation stage. Many senior leaders struggle with pricing and how to position their product or services in the marketplace. A person’s professional background, whether in sales, marketing, finance, or accounting, gives them a different perspective on what a pricing strategy should be. In this course, you will learn pricing strategies for achieving profitability and growth. You will discover the relationship between price, sales and other marketing elements, the impact of various pricing options on firm profitability, and how to apply pricing strategies to business decisions. Upon completion of this course, you will have a solid understanding of:
- The pricing function
- Buyer reactions to price: factors that influence price sensitivity, taking the focus off of price, pricing practices that endanger profits
- Developing pricing strategies: customer value analysis, pricing over the product life cycle, product-line pricing
- Profitability analysis: assessing price sensitivity and measuring profitability
- Special topics in pricing: managing channel conflict, fighting and avoiding price wars, research methods for making good pricing decisions
Who should attend
Senior level management and members of their leadership teams. It is recommended that multiple senior leaders with different roles (e.g. marketing, sales, finance, accounting) attend this session in order to understand how each business function views pricing and to build consensus when developing your company’s pricing strategy.