Marketing and Pricing Strategy

Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, and techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn.

After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm. This course has an additional focus on pricing dynamics and the reaction to and by competitors, taking a highly pragmatic approach and one that is directly applicable to your day-to-day professional life.

Why It Matters:

Effective Marketing and Pricing Strategies not only boost sales but also enhance brand reputation. A strategic approach to marketing ensures that businesses reach the right audience with the right message, fostering customer trust and loyalty. Simultaneously, a well-thought-out pricing strategy maximizes revenue, sustains profitability, and allows businesses to invest in innovation and expansion.

OBJECTIVES:  

• Understanding Business and Marketing Strategies
• Understanding Marketing Mix
• Understanding Marketing Positioning
• Understand the framework that supports a set of pricing strategies
• Identify customer value as the basis for successful pricing and understand how dynamic customer needs can influence pricing decisions
• Examine the fundamental basics for pricing like the economics of supply & demand and the overall determinants of demand
• Plan and create relevant pricing strategies for the products

WHO SHOULD ATTEND?

This course is for marketing and sales staff who are managing business relations. This course is focused on developing relationships and strategies to support existing marketing and sales techniques.

OUTLINE: 

Module One

• Strategic Marketing Management
• The basics of strategy
• The Role of Marketing Within Strategy
• Porter Business Strategies
• The MOA
• Marketing Functional Strategies
• Market forces analysis
• The Ansoff Matrix
• The Portfolio strategies and BCG Matrix

Module Two

• Marketing Mix – Value Adding and Value Extracting
• The Holistic Marketing concept
• Marketing mix
• STP fundamentals
• Matching the Marketing mix with the Product Life Cycle
• The Positioning principles
• Perceptual Mapping
• The Brand Positioning

Module Three

• Issues & Challenges with Pricing Products
• Pricing factors
• Distinguishing successful pricing strategies
• Align pricing with other marketing mix elements
• Types of Sales Promotion
• Effect of Sales Promotion
• Aligning Sales Promotion with Pricing Strategy

Module Four

• Factors Affecting Pricing Decision
• Role of demand
• Influences of supply
• Market Structure
• Types Elasticity of demand
• The impact of Elasticity on pricing
• Porter 5 Forces and their effects on pricing
• Pricing & regulatory environment

Module Five

• Pricing Strategies
• Types of Pricing Decisions
• Understanding Pricing financial principles
• Price/Volume Trade-off
• Break-even analysis
• Understanding the Pricing Game
• Competitive Advantage as a Source of Profitability
• Types of retail channels and effect on Pricing