Managing pricing affects a company’s growth and profitability more quickly than any other decision. Most markets know the three Cs of pricing: cost sets the floor, customer willingness to pay sets the ceiling, and competitive pieces set the benchmarks.
This seminar will help participants use price to achieve strategic objectives, successfully introduce new products to the market, respond to significant price competition, achieve prices that reflect the true value of their products and services. In addition, help participants to learn how to strategically manage pricing to defend or increase their profitability, even in highly competitive markets.
Key Learning Objectives
Upon Completion of this program, participants will:
- Change customers’ price perceptions to capture more value.
- Standardize discounting criteria to enable salespeople to respond more quickly and consistently with price offers that meet customers’ needs.
- Monetize the value of offerings you provide to customers Transform pricing policies to position and reposition products.
- Combat increasing price pressures and recessionary blows in a down economy.
- Evaluate the real financial implications of pricing decisions.
- Use pricing strategically to guide a business to long-term profitability, rather than reactively to solve short-term problems.
- Determine when it makes sense to compete on price and when it does not.
- Determine which value-added alternatives to price competition are appropriate for your business.
- Strategic versus Tactical Pricing framework.
- Strategic Pricing Tools and Applications process.
- The logic of pricing decisions as part of marketing strategy.
- Setting Profit Maximizing Prices
- Pricing Psychology and how to measure price sensitivity.
- Costing and Financial Analysis
- Managing Price Competition
- Organizational Transformation
- The tactics of pricing: Versioning, Product line pricing, channel pricing and Communication value.