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Price Management: A Sure Way to Improve Profitability
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Many manufacturing companies do not believe that pricing can be managed. Some focus only on price negotiation. Negotiation is important, but this seminar highlights many other actions to improve your pricing processes, with the result of significant gains in profitability. Get a first hand view of the analysis and actions that will enable you to tap the pricing opportunities in your business.
Who Is This Group For?
This Accelerator Group is designed for anyone in your organization who makes pricing decisions. Those who are involved with marketing, product management, and sales management will find this group to be particularly useful.
What Is This Group Going To Do/Learn?
After completing this Accelerator Group, you will be able to identify the key areas of focus for a successful price management program. You will be asked to bring your pricing problems to each session. Assignments will be given where you will be asked to apply our pricing tools to your business. You will have mastered analytical techniques to gain the insight necessary to develop an effective action plan. You will learn what works, and what doesn't, as you initiate price action for improved profitability.
Apply to participate in this Accelerator Group.
This Group has 9 sessions over 12 weeks.
There is advance preparation prior to Session 1.
Outline
Session 1: Importance of Pricing. Organization for a Price Improvement Program
In this session we will discuss the importance of pricing, and the need to communicate pricing goals to the organization. We will review a price improvement methodology, as well as the organizational requirements to ensure an optimal price management program.
Session 2: List Price Management and Price Realization
Most companies have list prices. Learn how to analyze list prices, identify specific SKU's (line items) for price adjustments, and measure how much is realized from any price increases. We will discuss how to communicate price changes to customers and people in your organization.
Session 3: Discount Management and Compliance with Authority Policies
Reducing unnecessary discounting is the goal of a discount management program. Learn how to analyze discount patterns while putting in place the right discount authority process for your business.
Session 4: Customer Price and Profitability: Analysis and Action
There is often wide variability in prices and profit to specific customers. Why should smaller customers get better prices than larger customers? We will discuss how to analyze pricing to customers, actions that you can take to deal with problem customers.
Session 5: Understanding Value: Value Analysis
Many talk about pricing on value, but few show you how to get started. We introduce a powerful technique for understanding the value of a product or service. We discuss the pros and cons of using research to help in determining the "best" price.
Session 6: Competition and Competitive Price Positioning
Learn how to use an understanding of product value in competitive price positioning. We will also discuss competitive price response and competitive strategy. For many manufacturers, reverse auctions and off-shore suppliers are an increasing factor in their business. We will discuss ways to counter this threat.
Session 7: New Product Pricing (Part 1)
New product pricing is complex. Manager's need to breakdown this task into manageable elements. We introduce a process for New Product Pricing. Learn how to increase your confidence and reduce the risk of a product launch.
Session 8: New Product Pricing (Part 2)
A case study is used as the basis for exercises & discussion. The attendees learn how to tackle Portfolio Management, Value Segmentation, and Competitive Positioning. We will also discuss how best to tie the New Product Pricing Process into the Product Development cycle.
Session 9:
We will review key elements of the course, and answer any questions. This is our time to recap as we continue to address your pricing problems. Your assignment for this session will be the finalization of a price action plan for your business.
Fee
The fee for this Accelerator Group is $1200. Payment is by credit card prior to the first session.
Schedule
The next Group start is planned for early 2008. If you are interested in that Group, please click the link below to apply.
Apply to participate in this Accelerator Group.
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