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Pricing for Profitability
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Pricing for Profitability
Course Overview:
Course Overview:
Pricing is one of the most powerful ways to improve – or destroy – profits. This course can help you improve the pricing practices at your company or allow you to help your clients make better pricing decisions.
A Deloitte pricing effectiveness benchmark study found that: "Companies that actively pursue pricing as an important part of their strategy typically outperform industry peers on several financial metrics… Companies that are pricing leaders are 26 percent better at managing true profitability." This course focuses on financial management and profitability analysis of pricing.
The course is comprised of three sections. Each section looks at pricing from one of three perspectives:
A Deloitte pricing effectiveness benchmark study found that: "Companies that actively pursue pricing as an important part of their strategy typically outperform industry peers on several financial metrics… Companies that are pricing leaders are 26 percent better at managing true profitability." This course focuses on financial management and profitability analysis of pricing.
The course is comprised of three sections. Each section looks at pricing from one of three perspectives:
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Section 1 - Pricing Profitably Analysis and Processes: Internal analysis and processes
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Section 2 - Pricing Profitably for Your Product's Value: Customer perceptions and actions
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Section 3 - Pricing Profitably in the Face of Competition: Competitive pressures
Here’s a summary of each section of the text course:
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Pricing Profitably Analysis and Processes: This section explains how to analyze pricing decisions to anticipate their profit implications. Cost-plus pricing is a popular pricing methodology, but we explain its weaknesses. We also cover how many parts of a company can work together to improve pricing.
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Pricing Profitably for Your Product's Value: Price is a function of the value provided to customers. This course focuses on customer perceptions of value and their willingness to pay for that value. You'll learn the calculation for value-based pricing. We also touch on pricing ethics.
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Pricing Profitably in the Face of Competition: The focus of this course is how other companies can impact prices. We show how to analyze the profitability at stake by responding to competitor pricing. You'll learn common pricing strategies relative to market pricing. Finally, We'll show how to identify and reduce poor discounting practices.
This course shows examples of calculating the changes in profitability from different pricing decisions. You’ll learn how to calculate the costs of price cannibalization. We also show how to use following analysis techniques for pricing decisions:
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Cost-volume-profit analysis
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Break-even analysis
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Sensitivity analysis
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Two-variable data tables
Learning Objectives:
Upon completion of this course, you will be able to:
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Recall key concepts of competition-based pricing, value-based pricing, and cost-based pricing
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Identify price cannibalization
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Recognize common pricing strategies
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Recognize break-even analysis
Course Number:
RS02
NASBA Field of Study:
Management Services
Level:
Basic
Author/Instructor:
Rob Stephens
Publication Date:
February 2024
CPE Credits:
6
RS02
NASBA Field of Study:
Management Services
Level:
Basic
Author/Instructor:
Rob Stephens
Publication Date:
February 2024
CPE Credits:
6
Prerequisites:
None
Advanced Preparation:
None
None
Advanced Preparation:
None
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