Pricing Strategies: Capturing and Sustaining a Competitive Advantage November 8, 2009

Boost the bottom line with value-capturing pricing strategies!

Take the mystery out of competitive pricing strategies and maximize your product or service’s sales potential—even in times of economic upheaval. At this seminar, you’ll gain unique tools and proven tactics to better assess your current pricing position and develop pricing strategies that will increase your company’s “wallet share” and long-term customer loyalty.
How You Will Benefit

* Develop pricing strategies using an actual proven process—rather than guesswork or ad hoc approaches
* Align your pricing strategies to corporate goals and objectives
* Identify what customers truly value—and are willing to pay for
* Optimize pricing throughout your customer base by segmenting your market
* Avoid the most common pricing errors that companies make
* Build a competitive pricing model into your organizational structure

What You Will Cover

* Pricing strategies in competitive markets
* Market research: key to pinpointing customers’ evaluations of suppliers’ product quality, service level and overall value
* How to conduct a competitive pricing analysis
* How to create a competitive advantage to enhance pricing opportunities
* Case study: the case of the pricing predicament
* How to successfully implement new pricing strategies and tactics

Who Should Attend

Marketing and product managers and executives at all levels—as well as financial managers involved in pricing strategies, sales and customer service managers and senior management (presidents, vice presidents and senior vice presidents, COOs and others).
Extended Training Description

Learning Objectives

* Identify and Avoid Common Pricing Errors
* Determine the Perceived Product Quality, Service Level, and Overall Value as Viewed By Your Prospects and Customers
* Identify Specific New Strategies and Tactics to Enhance Your Company’s Competitive Advantage and Competitive Position
* Develop Enhanced Pricing Strategies to Improve Your Company’s Performance

Pricing in Competitive Markets

* Recognize and Avoid Legal Pitfalls Associated with Pricing
* Pinpoint the Key Components to Consider When Assessing Pricing
* Recognize How Buyers Evaluate Products Over a Product’s Life Cycle
* Be Aware of the Pitfalls of Pricing in Competitive Markets
* Determine a Critical Difference in Perception Between Buyers and Suppliers
* Assess Critical Pricing Issues

Market Research: The Key to Pinpointing Customers’ Evaluations of Suppliers’ Product Quality, Service Level, and Overall Value

* Use the Three Keys for Successful Market Research
* Identify Your Customers’ Critical Selection Factors for Suppliers
* Develop a Market Research Questionnaire to Determine a Product’s Accurate Competitive Position

How to Conduct Competitive Pricing Analysis

* Use the Competitive Pricing MatrixTM to Analyze Competitive Positions
* Explore the Specific Performance and Pricing Levels Required for Placement in Each of the Nine Quadrants on the Competitive Pricing MatrixTM , and Identify the Predicted Levels of Customer Loyalty Associated with Each Quadrant
* Determine the Four Most Common Market Share Positions, and Recognize the Pricing Power Generally Associated with Each Market Share Position

How to Create a Competitive Advantage to Enhance Pricing Opportunities

* Identify Common Market and Pricing Conditions in Competitive Markets
* Use the Pricing Power IndexTM to Evaluate Pricing Power
* Determine Why Only 8% of Suppliers Have Earned Their Customers’ Loyalty
* Recognize Effective Basic Strategies and Tactics That Suppliers Have Utilized to Create Sustainable Competitive Advantages
* Recognize the Benefits of Attaining an Elite Supplier Status

Case Study—The Case of the Pricing Predicament

* Use an Array of Pricing Tools to Analyze Your Company’s Product’s Current Competitive and Price Positions

How to Successfully Implement New Pricing Strategies and Tactics

* Select Tactics to Enhance the Successful Implementation of New Pricing Strategies
* Identify Resources Required to Create and Implement Successful Pricing Programs
* Determine How to More Effectively Manage the Key Pricing Concern Raised in Module 1
* Identify the Most Important New Pricing Initiative Learned in the Class

Official Website: http://www.focustraco.com/index.php/tm-training-schedule/details/281-108202