In this course, students will learn more about Value-based pricing and the WHY behind companies broadly accepting value-based pricing as a superior methodology to alternative pricing paradigms. Students will learn how executives functionally arrive at prices aligned with the principles of value-based pricing; the techniques they use; the tradeoffs between the competing pricing methodologies; the specific process steps executed to deploy these methods; and learn how these methodologies can be used to engage positive collaborations with product managers, salespeople, finance departments, and marketing communications professionals.
In How to Price, Tim J. Smith, PhD clarifies the three industry-dominant pricing methodologies in practice today and their relationship to value-based pricing: exchange value to customer, conjoint analysis, and economic price optimization. Each of these methodologies is an industry-proven, academically accepted best practice for addressing pricing challenges. Each is superior in some cases but inferior in others. Each uses market research data to understand customer choices but the type and sources of the data differ between them greatly.
The objective of this course is to inform executives of the dominant pricing methodologies in the market and enable them to select the right approach for whatever price-setting challenge they face.
The proper definition of value from the customer’s perspective, and therefore what value-based pricing really means.
How to price new products and services according to their exchange value to the customer
How to gather the information required for quantifying exchange value
How to conduct a profit sensitivity analysis to inform pricing decisions
How data can be used to conduct economic price optimization
Why economic price optimization is limited in its application
Why pricing based on the customer’s perception of value is so important
What conjoint analysis is and why is it superior to other survey-based pricing approaches
How to identify neutral, skim, and penetration pricing strategies
How to anticipate competitor price response to pricing actions
How to identify opportunities to increase profit through examining the relationship between prices and benefits
Distributors may purchase multiple copies of packages to distribute to learners, and follow their progress. Bulk discounts are below.
| Quantity | Price per voucher |
|---|---|
| 1+ | $0.00 |
| Welcome |
| PPT Presentation | ||
| Transcription |
| Session |
| How to Price Presentation - Module 1 | ||
| How to Price Presentation - Module 2 | ||
| How to Price Presentation - Module 3 | ||
| How to Price Presentation - Module 4 |
| Course Assessment |
| Final Quiz |
| Course Survey |
| How to Price Survey |