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Executive Education

Value-Based Pricing for Achieving Growth

Overview

Considering that a small increase in realized prices can lead to a significant gain in profits, determining the right price points and then rolling such out is vitally important. However, many firms and managers lack a structured way to think about and implement pricing in their firms.
 
Against this background, firms need to understand and adopt well calculated pricing approaches in an increasingly competitive environment where a rising proportion of revenue can be gained by thinking beyond the core of what their product and service delivers. As gaining such revenue means adopting a mentality beyond ‘static-pricing’, the SCHSBM Executive Education’s Value-based Pricing for Achieving Growth programme will help to develop such critical thinking and will seek to deepen delegates’ understanding of best practices in the pricing world. Specifically, this programme will introduce delegates to industry best practices in pricing strategy while offering them the opportunity to gain hands-on skills in the application of new pricing tools and techniques. Additionally, it will demonstrate how to apply these tools and techniques to real business challenges and help delegates to develop innovative ways to drive profits and execute strategic pricing plans.
 
Value-based Pricing for Achieving Growth will be taught in executive education style, promoting an open atmosphere that encourages active participation, and “action learning.” Material will be centred on price and revenue optimisation, with a strong emphasis on practical application in decision-making, including the use of case studies, exercises, and examples.

Programme Goals
The goals of the programme are to:
  • Strengthen delegates’ understanding of how to make effective pricing decisions.
  • Facilitate delegates’ understanding of the strengths and weaknesses of different pricing approaches.
  • Enhance delegates’ ability to choose the right pricing approach and the right price level.
  • Demonstrate how to implement the right price approach in the face of competitive situations and reactions.

Learning Objectives

On successful completion of the course, delegates will be able to:
  • Assess how their consumers think about prices.
  • Explain how different pricing approaches can assist in enhanced revenue generation.
  • Develop a systematic framework for assessing, formulating and implementing different pricing approaches for their business.
  • Evaluate the connection between value and pricing, in particular, the core concepts of relative perceived value, value-in-use and value-driven market strategies.
  • Compare the key principles of pricing strategy.
  • Identify and capture additional revenue growth through pricing execution strategies.
  • Apply practical tools for managing pricing.
  • Assess the more specialised approaches to pricing.
  • Analyse the various perspectives on pricing, the behaviours it drives, and its central importance to business performance.

Topics To Be Covered

  • Determining value & price response models - Pricing and its link to product management
  • Elasticity and its effect on Pricing - How customers view and react to prices
  • Value-Based pricing: Differentiation vs. commoditization
  • Dynamic pricing - What is the 'right' approach and 'right' price level
  • Price framing, signalling and managing price wars
  • Understanding ‘transparency of price’
  • Managing price promotions - Everyday low price and bundling
  • Sales force and pricing - How to position the price philosophy effectively

Who Should Attend

  • Executives engaged in launching new products or services
  • Mid- to senior-level executives in product development, marketing, or accounting and finance
  • Executives responsible for designing, evaluating, and implementing pricing strategies in both B2B and B2C
  • Managers of private and public sector firms toward setting and managing the right price levels for their products and services within the framework of marketing and corporate objectives. Such personnel could be from the marketing, finance, and information technology areas or from general management
  • Executives engaged in developing pricing systems and approaches in consumer markets and industrial markets, such as hotels, airlines, energy, automobiles, fast moving consumer goods, consumer appliances, pharmaceuticals, retailing, and professional service firms

 

At a Glance

Registration
Open

Programme Duration
30th November - 2nd December 2022
(3 days - 8 hours per day)
 
Modality 
In-person and Virtual

Location
Sagicor Cave Hill School of Business and Management,
Barbados

Programme Fee

  • Early Bird: USD $1,100 (until 14th October 2022)
  • Regular (In-person): USD $1,500
  • Virtual (In-person): USD $1,250 
  • Contact us for corporate and group rates
Fees inclusive of course material, break and lunch

Certificate Awarded
Certificate of Completion

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