Online Courses
Wiglaf Pricing offers two types of online courses:
- Online Courses hosted with the Professional Pricing Society
- Massive Open Online Courses (MOOCs) by Wiglaf Pricing on YouTube:
Online Courses hosted with the Professional Pricing Society
How to Price
Learn quantitative methods in value-based pricing including exchange value to customer, conjoint analysis, and economic price optimization.
The objective of this course is to inform executives of the dominant pricing methodologies in the market and enable them to select the right approach for whatever price-setting challenge they face.
Attendees will learn:
- The proper definition of value from the customer’s perspective, and therefore what value-based pricing really means
- How to price new products and services according to their exchange value to the customer
- How to gather the information required for quantifying exchange value
- How to conduct a profit sensitivity analysis to inform pricing decisions
Influencing Customer Price Acceptance
Understand the perceptual, behavioral, psychological, and neuroeconomic factors that influence customer’s price perceptions to identify approaches to selling at better prices.
Attendees will learn:
- Hidden economic effects that influence customer purchase behavior and price perceptions
- Perceptual challenges that influence how customers react to offers and prices
- Why prospect theory accurately predicts challenges customers have in making rational tradeoffs between price and value
- How anchoring and slow adjustment drive price expectations
- Implications of prospect theory in consumer behavior, including the endowment effects, order bias, framing, comparison set effect, end-benefit effect and more.
- Explore how trust is defined within the buyer’s mind.
Quantitative Methods in Discount Management
Learn the best practices for measuring, monitoring, and making price variance and discount decisions in business markets.
Attendees will learn:
- How to conduct a profit sensitivity analysis
- How to identify volume hurdles and use them in guiding marginal pricing decisions
- Why discounting can improve profitability
- The segmentation hedge requirements for discounting to improve profitability
- The three dominant approaches to monitoring price discounts
- The four dominant management approaches to guiding discounting decisions towards higher profitability
- The relationship between competition and discounting
Bundling’s Impact on Profits
Bundling’s Impact on Profits reveals the power of bundling to improve profits as well as its limitations and potential pitfalls using case studies, economics, financial analysis, and marketing strategy.
Attendees will learn:
- How to distinguish between Mixed Bundling and Pure Bundling
- How to identify situations where Mixed Bundling may improve profitability
- How to construct analytical models to demonstrate the financial value of mixed bundling
- How to inform inform market research inquiries to identify the optimal price points in a mixed bundling strategy
- How bundling deployed on a tactical or promotional basis influences consumer behavior and perceptions
Decisions in Add-on and Versioning Price Structures
Decisions in Add-on and Versioning Price Structures provides an in-depth analysis of the tradeoffs between selling enhancements in an add-on price structure versus a versioning price structure. It then expands these core issues by looking at profitable discounting and price promotion strategies within each. Case studies are drawn from consumer retailers, consumer branded goods manufactures, and industrial product and service providers.
Attendees will learn:
- How to distinguish between add-on and versioning price structures and know which should be used in which situation.
- Situations where versioning price structures may improve profitability over add-on price structures, and vice versa, as well as means to combine the virtues of both.
- How to construct economic models of the value of versioning in relationship to add-on pricing.
- The relationship of accessory product pricing to the core product price in an add-on price structure under different market conditions.
- Market effects to the average price captured under different versioning discount price structures.
- Best-practices and influences to discounting policy for both add-on price structures and Versioning price structures
Massive Open Online Courses (MOOCs) by Wiglaf Pricing
FREE Massive Open Online Courses
Online Pricing Analytics Training for Microsoft Excel by Wiglaf Pricing
Help get your pricing team up and running faster with step-by-step videos showing how to create and use the fundamental pricing analysis tools using Microsoft Excel.
Use the provided datasets and detailed instructions to create your own pricing visualizations.
Fundamental Pricing Analysis Tools includes:
- Pocket Price Band
- Price Waterfall
- Pocket Price by Market Variable (Continuous)
- Pocket Price by Market Variable (Discrete)
Excel 2013 for Marketing
Excel 2013 for Marketing (2015) shows students how to visualize data, calculate profitability, and conduct various statistical tests for market segmentation using Excel. And, the course is free. It is a Massive Open Online Course (MOOC) from Wiglaf Pricing.
Attendees will learn:
- How to make pie charts, cross-tabs, histograms, and scatter plots.
- How to conduct t-tests, F-tests, Chi-Squared tests, and multivariate regression analysis
- How to calculate profitability, use contribution margins and mark-ups, and conduct a break-even analysis
- How to index accounts, territories, and markets
- How to estimate demand using category incidence frequencies and the chain ratio method
- How to calculate the ROI on sales and marketing and the ROI for a customer value proposition
- Discount Factors and Net Present Value
