Pricing Model
Introduction
Effective pricing is the cornerstone of business success, dictating profitability, market stance, and customer perception. In today's dynamic markets, a data-driven pricing model is essential for optimizing revenue and delivering customer value. By considering market demand, competitive landscapes, and cost structures, businesses can implement strategies like dynamic or value-based pricing to drive growth. This program provides a comprehensive exploration of pricing models, equipping you to leverage them for sustainable competitive advantage.
How you will benefit
- Understand how to build Pricing model from Outside In and Inside Out
- How to change customers' price perceptions to capture more value
- Use pricing to strategically guide a business
Who should attend
RBNC designed this program for CEOs, Entrepreneurs, Startup Founders, Senior Managers and Executives of companies who analyze, recommend, or approve pricing decisions.
What you will cover
- How to decode business strategy into pricing strategy
- Factors impact on pricing strategy and price
- Pricing model: how to Star
Costing and Financial Analysis
- Determining the relevant costs for pricing
- Calculating break-even sales changes
- Analyzing the profitability of price changes
Setting Profit Maximizing Prices
- The role of value
- Segmented pricing
- Accounting for price sensitivity factors
- Using price to achieve strategic objectives
- Managing price over the lifecycle
Pricing Psychology from Customer
- Understanding how customer information processing strategies affect price perceptions and judgments
- Determining effective pricing communication tactics
- Managing customer risk to maximize value
Managing Price Competition
- Mastering the pricing model for profitable competition
- How to translate stories behind numbers for business decisions
- Managing resources for competitive advantage
- Understanding the legal issues in pricing
Schedule
