Introduction
What managers need is the knowledge to make pricing into a strategic tool. RBNC designed this seminar to build a clear, structured background for pricing decisions. Using this background, managers will gain confidence in pricing. Combining knowledge and confidence enables managers to develop strategic pricing that enhances business performance.
How you will benefit
- Gain up-to-date knowledge about pricing
- Learn to use pricing as a strategic tool to help achieve major business goals
- Develop increased confidence in pricing analysis and decision-making
- Understand whether you are underpricing or overpricing, and how to fix problems
- Create a better understanding of your customers' reactions to price
- Assess the financial outcomes of your pricing decisions
Who should attend
This course is appropriate for anyone with responsibility for developing or implementing pricing decisions for products or services. Division managers, marketing managers, brand or product managers, financial managers, business development officers, and consultants will find this course useful.
What you will cover
Module 1: Classic Pricing Frameworks: Setting Price to Optimize Profits
- Introduction and economic value to customers
- How cost affects price
- Competitive bidding
- How to beat the competition
Module 2: More Classic Pricing Frameworks
- Understanding customer price sensitivity
- Creative pricing
- Revenue management pricing simulation
Module 3: Innovative Pricing Strategies: Perfecting the Price
- Price contract negotiation exercise
- Product line pricing and bundling
- Price customization as competitive advantage
- B2B pricing simulations
Module 4: More Innovative Pricing Strategies
- Measuring willingness to pay using auctions
- Revenue model design and wrap-up