Pricing for Profit

In this course, you will learn pricing strategies for achieving profitability and growth. You'll discover the relationship between price, sales and other marketing elements, the impact of various pricing options on firm profitability, and how to apply pricing strategies to specific business decisions.

This course qualifies towards the following certificate(s):

  • Executive Development
  • Marketing Management

Takeaways

Attending this course will enable you to:

  • understand how people interpret and react to prices
  • measure the short and long-term impact of pricing decisions on profits
  • develop best-practice pricing strategies
  • set optimal prices across product lines and the product life cycle
  • craft strategies for mitigating price competition
  • develop strategies for fighting and avoiding price wars
  • employ research methods to inform your pricing decisions

Course Content

  • Understanding the pricing function: capturing value, basis for segmentation
  • Buyer reactions to price: factors that influence price sensitivity, taking the focus off of price, pricing practices that endanger profits
  • Developing pricing strategies: customer value analysis, pricing over the product life cycle, product-line pricing
  • Profitability analysis: assessing price sensitivity, measuring profitability
  • Special topics: managing channel conflict, how to fight and avoid price wars, research methods for pricing decisions


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