Strategic Pricing

Creating a Pricing Strategy for Increased Profits

You’ll learn to assess your pricing opportunities; utilize tools to measure value; understand the implications of product and market life cycles; and determine when and how to increase price or stem price erosion. In two days, you will have new ideas and tools that you can immediately apply to your business.

You’ll learn to assess your pricing opportunities; utilize tools to measure value; understand the implications of product and market life cycles; and determine when and how to increase price or stem price erosion. In two days, you will have new ideas and tools that you can immediately apply to your business.

Major topics covered include:
	Understanding how costs, competition, and customer values influence the price you choose
	Determining how customer values drive segmentation decisions, which in turn affect the benefits they seek and the price they are willing to pay
	Using tools to conduct break-even analysis, measuring price elasticity, and evaluating features/price trade-offs through relationship analysis
	Identifying lifecycles to establish prices for current and future market conditions
	Deciding when and how to raise prices
	Addressing price erosion situations

Strategic Pricing will help you determine the appropriate price to capture the value you provide to your customers.

You and other executives will be immersed in a learning environment that integrates fast-paced lectures, intensive group discussion, and application workshops to solve real business issues. You will leave with tools you can immediately use to improve your company’s performance.

This course is well-suited for team learning and decision making. Bring your core management team to complete your strategic pricing plan and gain a shared understanding of the strategic implications of your pricing options.

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 Measure Value
	Conducting a perceived value analysis
	Evaluating the perceived value map to develop strategic pricing options
	Measuring price elasticity
	Conducting a break-even analysis
	Performing trade-off analysis
	Conducting a pricing study with market research tools

Pricing Through the Product or Service Life Cycle
	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

Increasing Prices
	Assessing your leadership in the market
	Understanding the link between pricing, strategy, and segmentation
	Determining pricing latitude relative to elasticity
	Evaluating other pricing influences

Stemming Price Erosion: How to Evaluate a Pricing Problem
	Evaluating your differentiation
	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

Pricing Workshop The application workshop helps you to: measure customer values, segment based on these values, determine the best price, and assess price sensitivity.Participants will determine:
	What customers value versus the features and benefits we provide
	How customers perceive value
	How our offer compares with those of competitors
	What strategic pricing options they may consider

Who Should Attend
This course is designed for executives who have a direct role in developing and implementing their company’s pricing strategy. Participants represent senior level marketing, sales, product management, product development, business development, finance, and marketing team members. For instance: product managers will gain insight on how to value a new offering; financial officers will benefit by assessing pricing implications to the bottom line; marketing management will gain a better positioning strategy for the entire product line; and sales managers will be able to better negotiate price with their customers.

How Can I Make the Session More Actionable?
If your organization must quickly establish a new pricing strategy, attend this session as a working team of 3-5 people. You will work together to apply the concepts and tools to solve your pricing issues. Additionally, you will receive input and feedback from the instructor and classmates regarding your pricing options.

Special Features
We address your real pricing issues. Participants can volunteer their pricing issue to be used as a ‘case’ during the session.

Participants are invited to attend a dinner the first evening of the course, providing an opportunity to share information and ideas with the instructor and other participants.

Instructors: Mary Abbazia, Tom Niehaus
Fee: 2008 - $2495
Credits: 1.45 Continuing Education Units (CEUs)
CPE Credit Information
Field of Study: Marketing, Economics
Program Level: Overview.
No prerequisites or advance preparation is required.
Instructional Method: Group-Live offering
Continuing Professional Education (CPE) credits: 17
Dates: May 14-15, September 25-26, 2008
Time: 8:30am - 5:00pm 1st Day; 8:00am - 4:00pm 2nd Day
Dinner: 5:30pm 1st Day
Program Coordinator: Delores Lee, 626.395.4043

Strategic Pricing - pdf brochure
Technology Marketing Certificate Program - pdf brochure

The Industrial Relations Center is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.