Training: Price Management

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Price Management:  Identify the Value, Manage the Perception of Value, & Capture the Value

Abstract

Few issues give executives more strife than pricing, and rightfully so.  Pricing mediates every customer relationship as well as the profitability of the firm.  If prices are too high or improperly positioned in relationship to value customers’ capture, products will fail to sell.  If prices are too low, the firm fails to capture the value it delivers.

In Price Management:  Identify the Value, Manage the Perception of Value, & Capture the Value, we will examine academically researched and industry best practices for managing prices in highly competitive business markets.  This course applies concepts from the fields of economics, consumer behavior, prospect theory, negotiations, and competitive dynamics in order to provide executives with a well-rounded view of pricing in business markets.  Executives attending this course will be able to identify routes to improve their pricing practices and avoid traps leading to pricing disasters.

Attendees Will Learn

  • The nature of a good price
  • How to analyze the impact of price concessions on profitability.
  • The importance of correlating price to value
  • Psychological influences that impact price acceptance
  • How a firm or individual executives can take specific actions to manage prices higher and still capture customers

Audience

This seminar targets sales executives directly involved in creating and capturing profitable customers in business markets.  Executives from other areas, such as marketing and finance, often find it useful as well.

Agenda

Item

Time (7 hrs)

Negotiation Exercise

0:30

Effective Pricing in Business Markets

1:30

The Price / Volume Tradeoff

1:30

Case Study:  Chasing Volume is Hard to Justify

1:00

Psychological Factors Driving Price Acceptance

1:30

Prospect Theory and Price Acceptance

1:30

One-Sheet Overview of Price Training Courses