Pricing: Strategy and Tactics

General

4 locations available

Program Description

Too often, managers treat pricing as a tactical problem in financial analysis or sales management. In fact, pricing products and services is a strategic problem that requires coordination of many functional areas. The ability to manage effective pricing affects a company's growth and profitability more quickly and directly than any other strategic decision.

During this program participants will learn to:

  • Standardize discounting criteria to enable salespeople to respond more quickly and consistently with price offers that meet customers' needs.
  • Evaluate the real financial implications of pricing decisions.
  • Use pricing strategically to guide a business to long-term profitability, rather than reactively to solve short-term problems.
  • Determine when it makes sense to compete on price and when it does not.
  • Determine which value-added alternatives to price competition are appropriate for your business.


Who Should Attend


This seminar is designed for senior managers and executives of companies in business-to-business, service, and consumer markets, who analyze, recommend, or approve pricing decisions. It is especially valuable for directors of marketing, finance, sales, and planning and for managing directors and presidents of smaller companies, who are introducing new products, facing significant price competition, or failing to achieve prices that reflect the value they deliver.


Topic Outline

  • Costing and Financial Analysis
  • Analyzing the Profitability of Price Change
  • Managing Customer Value and Price
  • Understanding How Buyers Seek "Good Value"
  • Segmented Pricing
  • Pricing Psychology
  • Managing Price Competition
  • Formulating Pricing Strategy
  • Pricing Over the Product Life Cycle
Last updated January 2018

About the School

Since 1898, the University of Chicago Booth School of Business has produced ideas and leaders that shape the world of business. Our rigorous, discipline-based approach to business education transforms ... Read More

Since 1898, the University of Chicago Booth School of Business has produced ideas and leaders that shape the world of business. Our rigorous, discipline-based approach to business education transforms our students into confident, effective, respected business leaders prepared to face the toughest challenges. We are proud to claim: an unmatched faculty, degree and open enrollment programs offered on three continents, a global body of nearly 42,000 accomplished alumni, strong and growing corporate relationships that provide a wealth of lifelong career opportunities. As part of the world-renowned University of Chicago, we share the university's core values that shape our distinctive intellectual culture. At Chicago Booth, we constantly question test ideas and seek proof. This extraordinarily effective approach to business leads to new ideas and innovative solutions. Six of our faculty members have won Nobel Prizes for these ideas - a record no other business school has matched. This same culture transforms our graduates into business thinkers superbly equipped to analyze and solve the greatest business challenges. Read less
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