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.
Many companies feel immense pressure to reduce prices because of the prices of their competitors. This might have costs few have considered. It could devastate long-term profits. Worse yet, it could lead to a price war.
I'll start by explaining the premise and assumptions of competition-driven pricing. I'll define price cannibalization and show how to calculate its cost. A company must be very careful before starting or continuing a price war. I'll explain how to prevent one.
There are three common pricing strategies. You'll learn them and when each may be useful.
Finally, we'll tackle discounting. A good discounting process will improve customer satisfaction and employee morale. Repeatedly buckling under pressure to give discounts trains customers to press harder and harder for discounts. A company may think it's utilizing value-based pricing, but discounts tactically unravel that strategy to competition-based pricing. I'll show ways to identify where discounts are bleeding profits.
This webinar is available with
NO ADDITIONAL FEE if you have an active
all access membership or
webinar membership or can be purchased for
$10.00!
| Instructor: | Rob Stephens |
| Course No: | FIN-COMPETE-G90024 |
| Recommended CPE: | 1.00 |
| Delivery Method: | Group Internet Based - Webinar |
| Date Offered: | 11/5/2024 10:00 AM - 11:00 AM |
| Level of Knowledge: | Basic |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Registration Requirements: | Registration with GoToWebinar is required |
| Recommended Field of Study: | Webinars - Group
Finance
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Learning Objectives
- Recall key concepts of competition-based pricing
- Recognize analyses for tracking discounting
- Recognize common pricing strategies
- Identify price cannibalization