Value Based Pricing For Achieving Growth

Value Based Pricing For Achieving Growth

Considering that a small increase in realised 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 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 centered on price and revenue optimisation, with a strong emphasis on practical application in decision-making, including the use of case studies, exercises, and examples.”

Learning Objectives

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.

Course Duration

November 22nd – November 24th, 2023

Registration

Open

Location

SCHSBM, Barbados

Modality

In-Person & Virtual

Cost

  • US $1,500.00 – Regular fee
  • US $1,100.00 – Early Bird fee
  • US $1,250.00 – Virtual fee

Early Bird Deadline:

TBA

Certificate awarded:

Certificate of Completion

Upcoming Programmes

  • Finance for Non-Finance Managers
  • HR Essentials for Supervisors and Managers
  • Professional Business Etiquette for Success in the Workplace
  • Stock Market Investing 101

Contact Us Today

1 (246) 424 – 7731
schsbmopen@cavehill.uwi.edu

Social Info

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Completion Landmarks

On successful completion of the programme, 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.
  • Analyse the various perspectives on pricing, the behaviours it drives, and its central importance to business performance.

Programme Content

Determining Value and 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 prices and bundling

Sales Force and Pricing

How to position the price philosophy effectively

Why Study Here?

1% improvement in pricing translates into an 11% improvement in profits; thus, knowing this, when the boss asks for an increase in profits, your best strategy for success is to take a hard look at your pricing strategy.

Thus, this programme will give delegates the opportunity to:

♦ Seek new ways to improve sales and profits by showing how value can be measured and used as a key driving force in marketing and pricing decisions.

♦ Build a team that thinks more expansively about pricing.

♦ Discover new and changing pricing practices, and how these can be applied to day-to-day pricing scenarios.

♦ Ensure prices are set with value and profit maximisation, and not just ‘making margin’ or protecting market share.

Don’t miss out on this opportunity to learn from experienced industry professionals and connect with like-minded individuals. Register now and take the first step towards becoming a more successful and resilient leader. Don’t wait any longer, take action today and invest in your career growth!