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About the course
Of the 4Ps in marketing, pricing is the only P that generates revenues for the firm. Pricing decisions tend to have both short term and long term decisions and they impact both the top line as well as bottom line for firms. As such, they are directly monitored by the top level management in firms. Pricing decisions are affected by economic, marketing, organizational, and psychological factors, and must be made within a prescribed legal framework.
This course helps develop amongst the participants an appreciation of the importance of pricing. It helps develop the participants’ basic analytical skills, conceptual abilities and substantive knowledge in the field of pricing and helps them develop a systematic framework for understanding, assessing, formulating and implementing pricing policies and approaches.
This programme helps develop amongst participants a strategic view of pricing. This programme course has multiple objectives
- Develop a conceptual understanding of various pricing objectives
- Develop an understanding of how consumers view and react to prices and pricing approaches
- Develop a framework for identifying the right price metrics, price structures and price levels
To helps achieves these objectives the course focuses on providing participants the developing the appropriate concepts, methods, and new approaches for formulating pricing strategy.
The list of indicative topics that is planned to be covered during the programme is as follows
- Understanding consumers’perception of prices
- Pricing philosophies and approaches
- Cost Plus pricing
- Value Based pricing
- Price Metrics
- Objective driven pricing
- Price Metrics
- Market size and Pricing
- Price communication
- Psychological Pricing
- Pricing and gain sharing
- Marketing Channels and pricing
- Price competition
- Dynamic Pricing
- Law and ethics in pricing
Who should attend
The programme is ideally suited for middle level managers who are involved with pricing decisions. Both participants from corporate sector as well as government and public sector working in diverse industries would benefit from it. It is suited for managers in diverse roles in the domain of both B2B as well as B2C marketing (consumables/durables/services). Managers working in the domains of finance, consulting or general management would also benefit. An indicative list of industries would be FMCG companies, pharmaceuticals, services (restaurants/hotels), telecom, ecommerce, market research, events management, automobiles, petro products, real estate apparels etc.
Trust the experts
An alumnus of IIM Ahmedabad, Prof. Sanjeev Tripathi is an Associate Professor at IIM Indore. Prior to working with IIM Indore, Prof. Tripathi has worked at IIM Ahmedabad and MICA. Prior to his academic life, he has also worked with Nielsen, where he consulted P&G on their innovation processes...