Pricing Strategies & Tactics

Optimising business performance through pricing

Overview

• Importance of value in buying decisions.
• Price differentiation.
• The value proposition.
• Cost based pricing.
• Competition based pricing.
• Customer driven pricing.
• Three key pricing strategy questions.
• Economic value to customer.
• Calculating value based price.
• Pricing strategy formulation.
• Who should control pricing - sales, marketing or finance?

Who is this for?

• Business leaders and senior managers, particularly accounting, marketing, sales and general management executives.
• Business analysts, product management and pricing analysts.
• Business unit managers and managers of subsidiaries to whom pricing decisions are devolved.

What will you learn?

• the key financial, economic and psychological principles relating to pricing
• a practical framework for assessing the value of your product or service from the customer's perspective, which will help you make better pricing decisions
• the main contemporary methods of pricing – cost-based, competition-based and market-based, plus an introduction to the value-based approach
• how to develop a pricing approach using these contemporary methods
• how to assess pricing strategy from a financial and strategic perspective.

Case studies

The course includes case study scenarios which involve analysing different business situations and recommending, with justification, suitable pricing approaches.