“We can be blind to the obvious,
and we are also blind to our blindness.”
Everything has a price. In today’s world we have managed to put a price on anything and sell it in an ever-expanding global market. The moment you create something, a new service or product, you will need to decide how much you are going to charge for it. As such, pricing is an immensely important topic. Pricing tactics and strategies are important for managers and stakeholders aiming to maximise profits. Unfortunately, many managers are unaware of the latest developments and breakthroughs on understanding human psychology and decision making which can significantly influence pricing decisions.
The purpose of this one-day course is to prepare delegates to address strategic and tactical pricing across a wide range of pricing practices. They will learn how to choose prices based on their strategic planning, customer psychology, intended brand, competitors and marketing strategies. It is ideal for product managers, high level managers, management consultants, entrepreneurs and the self-employed who offer their products and services directly to customers.
Many successful business people have been busy developing their ideas into useful products and services. Quite often they have not attended an MBA course to master business skills or to learn about economic theories or pricing. This course aims to efficiently provide a set of handy tools and proven guidelines for people who need training in this area.
The course answers questions such as: How do you determine a price for a product? What is high-low pricing strategy? How would you know if the current price is suitable? How should you respond to competitors when they change their prices? What is segmentation strategy? How can you influence customer behaviour to boost profits?
The course contains many examples and case studies to illustrate key points using real-world examples used by some of the most successful corporations in the world. The course contains a variety of exercises which enables delegates to practice what they have learned during the course. These exercises along with subsequent discussions are immensely effective in training delegates and is one of the reasons why attending such a course can be very useful for delegates.
In this highly practical course participants will learn:
Course Duration: 1 Day
Course Level: Beginners & Intermediate
Consider using this course in conjunction with Strategic Planning as the topics complement each other and are both necessary to achieve the business objectives.
By the end of this course the delegates will be able to:
Pricing, marketing and business planning go hand in hand and the topic is rather extensive. Imagine a large corporation with multitudes of products that need to make high-level decisions on pricing, marketing and branding. You would expect people who would make such decisions to be well-versed in the skill, perhaps have an MBA and plenty of extensive training. You may therefor wonder what this one-day course aims to achieve.
This course is focused on many psychological aspects of pricing than on pure number crunching, economic theory, financial analysis, accounting and the like. It is aimed at delegates who are based in small to medium-sized businesses and who want to quickly learn how to set prices. Perhaps some delegates have a shop in town, or have setup an online e-commerce site to sell goods. Maybe they are self-employed and provide a service and are wondering how to charge their clients. There is plenty of information in this one-day course on how customers make decisions and how to appeal to them in order to sell product and services.
The course is packed with examples and guidelines that can be put to use immediately and is specifically designed so that everyone can follow them easily no matter what their background.