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Learn the strategic influences of customer price acceptance in this Online Pricing Course with Tim Smith, CPP.
Obtain valuable pricing strategies, access to industry publications, research and more resources for pricing professionals around the globe. The Professional Pricing Society's online education offerings are taught directly from leading pricing experts from around the world. Take an on-demand course from anywhere in the world, at any time!
Every PPS Online Course qualifies as one (1) CPP Credit towards a CPP Designation.
Influencing Customer Price Acceptance With Tim SmithWorkshop Details: Why is raising prices so difficult but lowering prices so easy? What can marketing communications and sales do to improve price capture? What kinds of switching costs affect pricing? Why do prices end in nines? Why do mattress salesmen show customers outrageously expensive beds first prior? Why are price cuts easy but price increases hard? How do customers think about prices and what can a company do to influence their expectations positively? In the "Influencing Customer Price Acceptance" Online Course, Tim Smith will explore over 17 different economic, perceptual, behavioral, psychological, and neurological influences to customer price perception. Some factors can be influenced by the actions of sellers, others are inherent within buyers, and still, others are impacted by competitors. All are important in understanding and influencing customer price acceptance. Course Benefits: This Online Course addresses pricing issues in business and consumer markets, appropriate for pricing, marketing, sales, and senior executives. Attendees Will Learn:
PPS is heading to San Francisco!26th Annual Pricing Workshops and Conference in San Francisco, California! Join the Professional Pricing Society October 2o - 23 for an amazing event in the Pricing Industry! We have an exciting lineup of Keynote Speakers and Workshop leaders, networking, events, and more for our attendees. Enjoy an exceptional mix of pricing professionals, industry knowledge, and city exploration in beautiful San Francisco, California! Check out our Buy-2-Get-1 FREE Special for Pricing Professionals interested in education certifications and designations. This year's host hotel is The Palace Hotel. Room specials are going on now! Contact us for more information! *Currently our Main site, PricingSociety.com is experiencing technical difficulties. However, you can STILL register for our upcoming Fall Pricing Workshops and Conference in San Francisco #PPSSF! The deadline to book a discounted rate at The Palace Hotel San Francisco is THIS FRIDAY!
Reach us directly:
Call - 770.509.9933 or Email: Cherica@PricingSociety.com.We look forward to speaking with you and apologize for the temporary inconvenience. Follow the hashtag #PPSSF across social media for all things Fall Pricing Workshops and Conference in San Francisco related. See you on the West Coast! Continue reading
Click the link to hear the FULL interview:http://www.voiceamerica.com/show/2347/the-soul-of-enterprise-business-in-the-knowledge-economy A bit more aout PPS President Kevin Mitchell: Kevin is the Publisher of The Pricing Advisor monthly newsletter and the quarterly Journal of Professional Pricing. A frequent speaker at pricing conferences and events in North America and Europe where he often discusses trends and demographic changes within the pricing discipline, he's worked for over 11 years in various Financial Management fields with Colgate-Palmolive and General Electric. Kevin holds BA degrees in Economics and English from Duke University and an MBA in Marketing from The William E. Simon Graduate School of Business at the University of Rochester. Since joining PPS in 2007, he resides in Atlanta, Georgia, USA and enjoys music, cooking, and sports. Check out The Soul Of Enterprise show and their LIVE interviews every Friday on VoiceAmerica.com (#VoiceAmerica). Learn more about the interview series by visiting TheSoulOfEnterprise.com. Continue reading
A leading luxury car maker performing an average of 100 additional safety tests than those performed on a non-luxury car. The company successfully sells the car in the market for $280,000. A well-known online retailer has one of the cheapest and most popular e-readers in the market at $79. What is the commonality between these two firms with wining products at different ends of the pricing spectrum? Both companies have given extensive thought to add value and pricing during the early stage of the product development process. The luxury car maker valued price and customer willingness-to-pay to determine a strong product concept that flows through subsequent phases. The high value proposition in turn helps to command a high price. On the other hand, an early pricing discussion on the e-reader helped the retailer create a robust product concept and a new product strategy-- low-priced products with a built-in feature to generate additional revenue streams by also being a live advertisement platform. Companies that incorporate pricing strategy early on are more likely to maximize the revenue potential and value of their products.3 Pitfalls That Lead To Pricing Problems Companies typically invest in pricing and value management strategies late in the product development lifecycle, in the period just before the product launch. This trend is drive by three (3) common issues: 1. Incremental Development Mindset: Many companies believe product development means adding a new feature to an existing product. Incremental development has its place when pricing products, but companies often default to cost-based pricing. Manufacturing cost and incremental customer value generated by the improvement cannot necessarily define the optimal price. 2. Lack Of Clear Value Positioning When companies think beyond incremental product development, they often feel as though new product pricing is risky and uncertain. How should you price something that has never been sold before? Companies often rely solely upon anecdotes, gut feel and emotion to set price rather than incorporating value analytics. 3. Limited Understanding Of Pricing Impact There is a general lack of understanding around the importance of the right price for new products. Companies are comfortable making significant changes to a product's price point after launch, once the market's reaction is determined. This inconsistency generates confusion among customers and across the industry as to the true value of an offering . For any business, price is the most powerful profit driver, and pricing mistakes can have long-lasting consequences. Next week (6.17.15): Pricing Is NOT An Afterthought Pt. 2 - Leading Practices In New Product Pricing SUBSCRIBE to The Pricing Authority Blog and NEVER miss a post! Continue reading