Executive Development Programme in Pricing Strategy: Results-Oriented
-- ViewingNowThe Executive Development Programme in Pricing Strategy is a results-oriented certificate course, designed to empower professionals with essential skills in pricing. In today's competitive business landscape, pricing strategy plays a pivotal role in driving growth and profitability.
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โข Understanding Pricing Strategy: This unit will cover the basics of pricing strategy and its importance in business. It will introduce primary pricing strategies such as cost-plus pricing, value-based pricing, competitive pricing, and price skimming.
โข Market Research for Pricing: This unit will focus on market research techniques to determine the optimal price point for a product or service. It will cover secondary research methods, such as competitor analysis, and primary research methods, such as surveys and focus groups.
โข Customer Value and Perceived Value: This unit will discuss how to determine customer value and perceived value. It will cover how to conduct customer research to understand their needs, wants, and expectations and how to use that information to set prices.
โข Cost Analysis and Profitability: This unit will focus on cost analysis and profitability. It will cover how to determine the cost of goods sold (COGS), fixed and variable costs, and how to calculate profit margins.
โข Pricing Psychology: This unit will cover pricing psychology and how to use it to influence customer behavior. It will discuss concepts such as charm pricing, price anchoring, and the decoy effect.
โข Dynamic Pricing: This unit will discuss dynamic pricing strategies and how to implement them. It will cover how to use data analytics to adjust prices in real-time based on demand, competition, and other factors.
โข Pricing Communication: This unit will focus on how to effectively communicate prices to customers. It will cover how to present prices in a way that is clear, understandable, and compelling.
โข Implementing Price Changes: This unit will discuss how to implement price changes in a way that minimizes customer resistance. It will cover how to communicate price changes to customers, how to handle customer complaints, and how to monitor the impact of price changes on sales and profitability.
โข Legal and Ethical Considerations: This unit will cover legal and ethical considerations in pricing strategy. It will discuss pricing regulations, antitrust laws, and ethical issues related to pricing, such as price gouging and deceptive pricing practices.
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