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CORE PRICING SKILLS

CORE PRICING SKILLS

(level 100, B2B & B2C Themed)
Tuesday Workshop #1 – October 23rd

Unless businesses adopt new and innovative pricing, rising costs and increased competition will diminish profit margins and they will not be able to reap the full rewards of technological investments in productivity, quality, R&D, and customer service.

This course will give you alternatives to pricing your products and/or services utilizing a customer-perceived value approach rather than cost-plus pricing methods. By learning to avoid the deleterious consequences of cost-plus pricing, you will communicate better with customers, be able to discover their expectations up-front, enhance their loyalty and retention, and increase your profitability.

In this workshop, attendees will learn the core pricing skills and concepts needed to implement customer-perceived value and value-based pricing approaches. We will review the genesis of cost-plus pricing and reasons why many businesses, despite the consequences, still cling to this approach. We will then focus on customer value perceptions, the economics of price discrimination, and the seven types of customer risk and their impact on value, among other topics.

Attendees will learn:

  • To present basic skills required when setting prices for a firm’s offerings

  • To show how to set appropriate pricing policies

  • To understand how prices convey information and intention

Lillian Cheng

Partner, Cheng Monroe & Associates

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Kent B. Monroe

Partner, Cheng Monroe & Associates

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