Description
Learn in a classroom environment with your peers, virtually, with a BEVA® instructor online.
Course Length: 1 day
Target Audience: General
Learning Objectives:
By the end of this course, participants will:
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Understand the strategic role of pricing in marketing
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Identify key pricing models and when to use them
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Analyze the relationship between price, value, and customer perception
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Use data to make evidence-based pricing decisions
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Develop and test pricing strategies for different market conditions
Course Outline
Session 1: Introduction to Strategic Pricing (1 Hour)
Topics Covered:
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The role of pricing in the marketing mix (4Ps/7Ps)
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Pricing vs. cost vs. value vs. perceived value
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Psychological aspects of pricing: How customers perceive price
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The impact of pricing on brand and positioning
Session 2: Pricing Models and Strategies (1 Hour)
Topics Covered:
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Overview of key pricing strategies:
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Cost-plus pricing
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Value-based pricing
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Competitor-based pricing
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Dynamic pricing
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Penetration vs. skimming
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Freemium and subscription pricing
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Choosing the right pricing strategy for your market and product
Session 3: Pricing Research and Data-Driven Decision-Making (1 Hour)
Topics Covered:
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Primary and secondary pricing research
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Willingness to pay studies and conjoint analysis
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Price elasticity of demand
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Using A/B testing and customer segmentation for pricing
Session 4: Communicating Price and Building Value (1 Hour)
Topics Covered:
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Anchoring and decoy pricing
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Framing and presenting price options
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Communicating value to reduce price resistance
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The role of pricing in conversion funnels
Session 5: Pricing in the Real World: Market Conditions and Competition (1 Hour)
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Topics Covered:
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Adapting pricing in changing environments (inflation, market shifts, supply chain disruptions)
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Pricing for different customer segments
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Competitor pricing monitoring and reaction strategies
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Local vs. global pricing strategies
Session 6: Pricing Action Plan + Wrap-Up (1 Hour)
Topics Covered:
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Creating your pricing strategy roadmap
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KPIs and performance tracking for pricing effectiveness
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Common pricing pitfalls and how to avoid them
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Key takeaways and open Q&A
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Supplement Material
A student manual is available for the learner to follow during the instructor’s presentation.
Benefits to the participants
Throughout the activities, the participants will gain a better understanding of pricing and how it can influence marketing strategies.
Course Evaluation
A course evaluation will be completed by the learners once the course is finished.
Certificate
A BEVA® certificate of attendance will be provided once the participant completes the course.
Note: The course outline may be subject to change.
