About this course

Course code TP1319
Duration 1 Day

In this highly practical event we focus on delivering a sound understanding of contemporary pricing tools and methodologies. We will dispel some of the myths and fears of pricing and present the subject in a logical, easy to understand and, above all, highly practical manner. This course will provide a sound footing for anyone wishing to understand pricing more fully.

Benefits to you and your company:

Delegates are encouraged to share the pricing challenges they face in their businesses, and to discuss them with other participants. They will learn how to select a particular pricing approach and to understand the arguments for and against such decisions. Their pricing confidence will increase and the pricing decisions they make will be more logical, more profitable and better informed.

Prerequisites

Who should attend?

This practical, no-nonsense course introduces pricing for marketing people. It assumes no specialist knowledge or experience in pricing. Sales, marketing, product management, accountants, operations and technical personnel will find this course helpful. General managers who want to get up to speed on current thinking or want to know what their pricing people do, will also find this course of beneficial.

Delegates will learn how to

  • Understand how basic economic and accounting principles apply to pricing decisions.
  • How to assess customer value of a product or service proposition.
  • Know what is meant by cost and competition-based pricing and when these methods are best applied.
  • Understand market-based pricing methods including value-based pricing.
  • Recognise the factors to take into account when assessing profitability of pricing decisions.
  • Be able to undertake simple pricing calculations
  • Use simple price management methods.

Outline

The Central Role of Value in Pricing Decisions

  • Value analysis using the value triad and value triangle; Pricing maturity model.

Pricing Pillars - Key Concepts

  • Breakeven analysis, contribution, discounting and the price-contribution-volume relationship.
  • Economics concepts especially demand and supply, elasticity, perfect and imperfect competition, commoditisation; Quick summary of pricing law.

Transactional Pricing Methods

  • Description of cost and competition based pricing methodologies; Market based pricing - methodology and critique.

Value Based Pricing Methods

  • An introduction to value based pricing; Pricing on profitability; Dynamic pricing Role of Sales and Selling.

Delivery style
Primarily training is delivered by a combination of lecture, discussions and case work. Delegates will be encouraged to raise issues for class discussion, provided that no confidentiality is being breached. Delegates will be challenged to analyse simple pricing cases and offer recommendations; demonstration of contemporary commercial pricing softwareIn this highly practical event we focus on delivering a sound understanding of contemporary pricing tools and methodologies. We will dispel some of the myths and fears of pricing and present the subject in a logical, easy to understand and, above all, highly practical manner. This course will provide a sound footing for anyone wishing to understand pricing more fully.

1 Day

Duration

This is a QA approved partner course

Delivery Method

Delivery method

Classroom

Face-to-face learning in the comfort of our quality nationwide centres, with free refreshments and Wi-Fi.

Find dates and prices

Online booking is currently not available for this course, to find out more please call us on 0345 074 7998 or email us at info@qa.com to discuss how we can help.

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