The Working Out Your Pricing Strategy course is designed for:
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.
- Owners of SMEs
- Senior managers in SMEs
- Marketing or sales managers in SMEs
|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.
- 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
- 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
1 day (7 hours)
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