Working Out Your Pricing Strategy

    Target Audience

    The Working Out Your Pricing Strategy course is designed for:

    • Owners of SMEs
    • Senior managers in SMEs
    • Marketing or sales managers in SMEs
    Individuals in such positions need to master the content of this course in order to be able to make better decisions relating to the development and implementation of a pricing strategy that is suitable to the marketing and business strategy of their company.
    Course Objectives
    After attending this course, participants are expected to be able to:
    • Identify the factors that determine a product's price.
    • Describe basic pricing strategies.
    • Explain different ways to adjust price and give examples of when it is appropriate to apply each strategy.
    • List some reasons for adjusting a price and the potential reaction of related parties.
    Content
    • Introduction to the workshop
    • Session 1: What are the basic factors in pricing?
      • Internal factors of the firm
      • External factors of the firm
    • Session 2: Basic pricing strategies
      • Pricing for innovative new products
      • Pricing for imitative new products
      • Pricing for the product-mix
    • Session 3: Adjusting a price
      • Discount – Allowance
      • Segment
      • Others
    • Session 4: Changing a price
      • When to decrease a price?
      • When to increase a price?
      • The reaction of relevant parties
    • Concluding remarks, action planning and wrap-up
    Course Duration

    1 day (7 hours)


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