About
COURSE OBJECTIVES
• Developing pricing strategies that drive sales and profits successfully
• Build strategic pricing capabilities within your company
• Develop a template that provides a structure for identifying the most profitable pricing opportunities
WHO SHOULD ATTEND:
Managers who are responsible for maximization of revenue e.g.
• Marketing Director
• Marketing Manager
• Chief Operating Officer
• Business Analyst
• Accountant
• Commercial Manager
• Business Manager
• Merchandising Manager
• Category Manager
• Key Account Manager
• Business Development Manager
• National Sales & Marketing Manager
Outline
Strategic Pricing: The Background and Theory
• Competitive pressures
• The profit drivers
• Pricing theory
• Supply/value chains
Strategic Pricing: The Importance of a Value-Based Approach
• Linking pricing to strategy and the significance of segmentation
• The 3C’s of pricing — customer value, competitors’ prices, and your costs
• Creating a framework to evaluate where to set price: based on customer value, costs, the differential advantage (competitors), and the company’s strategic objectives
Improving Pricing Decisions: Why You Must Relate Benefits and Customer Value to Price
• Measuring customer value — tools that rely on managerial judgment and formal
market research
• Distinguishing between attributes, benefits, and values for effective pricing
• Segmenting based on customer dimension — the foundation for effective pricing
Using Tools to Establish and Measure Value
• Conducting a perceived value analysis
• Evaluating the perceived value map to develop strategic pricing options
• Reference pricing
• Price points
• Price sensitivity
• Measuring price elasticity
• Conducting a break-even analysis
• Conducting a pricing study with market research tools
DAY TWO
Pricing Situations
• Determining your position on the product or technology life cycle
• Pricing new technologies and new product introductions
• Pricing during competitive turbulence
• Pricing for mature markets
• The competitive bidding situation
E-Commerce and the Internet
• Pricing and e-commerce
• Internet pricing issues
Increasing Prices
• Why price cutting is dangerous
• Marginal pricing
• Premium pricing
• Managing aggressive competition
• The value of the brand
• How the product is offered
• Evaluating other pricing influences
Assessing your Leadership in the Market
• Understanding the link between pricing, strategy, and segmentation
• Determining pricing latitude relative to elasticity
• Tiering, bundles and solutions
• Evaluating other pricing influences
Stemming Price Erosion: How to Evaluate a Pricing Problem
• Discounting and its effects
• Evaluating your differentiation
• Customisation
• Assessing the impact of branding and loyalty
• Identifying switching costs
• Determining if you have a pricing problem
Integrating Strategic Pricing Into Your Corporate Environment
• Creating a culture for effective pricing
• Linking pricing to your corporate objectives
Facilitators
James Henry
James Henry comes from an engineering background and has extensive international business experience. Having been involved in many industries from design through to marketing, his teaching and research interests in business-to-business marketing, channel management, logistics and pricing reflect this experience. His PhD was in the area of price management.
James is actively involved with the business community in a number of roles. Firstly as a consultant in the areas of Business to Business Marketing and Strategy. Secondly as an advisor and mentor for industry support projects such as Business in the Community and Business Grow. He lectures in pricing and distribution, and product and brand management.
James Henry is also facilitating:
Andrew Pascoe
Andrew Pascoe has senior level experience in Revenue Management and is currently owner/director of PriceTech Solutions. He was previously Revenue Manager for AirNZ- Freedom Air and has designed and built revenue management systems and programmes at Interislander. He has chaired and presented at pre-conferences and some of his clients include Rugby World Cup 2011, Jucy Rentals and several other clients in retail, sports, accommodation industry.
Andrew Pascoe is also facilitating:
