The course is built around the World Class Pricing© framework. Participants will be led through the 5 levels of World Class Pricing excellence. We will address the tools, skills, and change management considerations required to lead your organization to higher levels of pricing excellence.

In this course, students will learn about the tools, skills and Change Management considerations required to lead their organization to higher levels of Pricing excellence. Students who complete this course will be equipped with the knowledge and tools to tackle key Pricing challenges in today’s ever-changing environment. The course is designed such that participants will complete the course and be equipped with the knowledge and tools to tackle key pricing challenges in today’s environment. The course has been condensed from our two day “Best Practices in Pricing Management” CPP seminar. It is suited for Pricing Management practitioners of all levels of competency looking to upgrade skills or jump-start their implementation plan.

Modules Overview:

• Module 1 – Foundation Concepts: Core Terminology and Tools
  • Move beyond the “Power of 1%” to see how Pricing can generate significant opportunities for your business
  • Define the World Class Pricing Maturity Model for setting a path to excellence
  • Define a pricing process you can use to align pricing activities in your business and bring structure to decision making
  • Introduce the Basic Pricing Math that everyone in your organization needs to understand
• Module 2 – Assessment: Prepare your plan to transform your organization
  • How to conduct an assessment of where your organization lies on the World Class Pricing Maturity Model
  • Assess the Pricing Infrastructure of your organization and identify the weakest links
  • Develop a Pricing Waterfall to help you measure margin impact of current tactics
  • Develop a plan for accessing the data you need to conduct pricing analytics
  • Assess the strengths and weaknesses of your systems for managing list and customer prices
• Module 3 – Value: Transition to Value-Based Pricing and an Integrated Approach
  • Define the models you can use to quantify perceived and financial value
  • Utilize Perceived Value Maps to quantify the value of the intangible benefits of your offering
  • Introduce the Value Walk to identify opportunities and protect vulnerabilities
  • Introduce value-based segmentation in a way that your organization can buy into
  • Introduce the Financial Value Measurement model to quantify the tangible benefits of your offering
  • Bring a structured approach to designing your product architecture
• Module 4 – Price Structure: Develop a sophisticated Price Structure to Differentiate your offers.
  • Price Strategy: Four elements of a comprehensive Revenue Management Strategy
  • Define price structure as a key tool for Capturing the Value your offer has created
  • Create a price structure across a broad range of products for your business
  • Utilize transaction analytics to quickly assess your price structure
  • Bring creativity to your price structure to capture more of the available margin
  • Define the four distinct elements of a Pricing Strategy to go far beyond simply “Skimming” or “Penetrating”
  • Bring a disciplined pricing process to establishing target margins for channel partners
  • Document the pricing drivers and triggers that your organization can use to initiate price changes
• Module 5 – Digital Transformation: Set a Vision and Prepare for Digital Transformation in your Industry”
  • Connect pricing with the Digital Transformation happening in your business today
  • Define the requirements for Digital Transformation of the Pricing function
  • Use sophisticated predictions of demand within your pricing process
  • Integrate data from many sources to give you the full 360 view you require