"The Price Setting Process: A Key Step Towards World Class Pricing"
Presenter:
Jim Saunders
Pricing Management Practice Leader, Pricing Solutions Limited
Whether for a new product launch, a periodic price adjustment, or pricing the next deal, setting price is one of the most important decisions a company can make. It can dramatically affect a company’s future. If you get the price right then you will maximize profits and create opportunities to invest further in the business. If you do not set price correctly then you can set in motion a series of events that might take years to unwind.
In this highly interactive workshop we will review the tools and processes your company can implement to bring precision and rigor to the price setting process. After the workshop, participants will receive the Excel-based tools used in the course. We will show the following tools that you can implement to help you set prices for new products, periodic price adjustments and transactions:
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How to conduct a Pricing Power Assessment across different product segments and categories
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How to use the Pricing Power Assessment to determine the appropriate pricing strategy
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Move beyond cost based pricing to learn how to use cost information strategically in price setting
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Practical processes for how to move towards the elusive goal of capturing Value Based Pricing opportunities
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How to build an effective project plan to implement the changes we discuss.
Jim Saunders leads the Pricing Management practice at Pricing Solutions. His expertise covers industries as diverse as packaged goods, pharmaceuticals, transportation, financial services, and the media.
Jim joined Pricing Solutions after 12 years in management at two major international corporations. As Director of Finance for Nestlé’s confectionery business, he was responsible for pricing. In that capacity, he led the implementation of several price increases, controlled a large discretionary trade spend budget, and improved equitability of pricing and trade programs across a range of trade channels. In his position as Manager of Strategic Planning at Bombardier Aerospace, he was responsible for developing a radically redesigned process for development of new aircraft programs.
Through transactional analysis, he has helped client’s companies understand the behavior of their customers and develop effective bundles to capture share and increase profit.